Oriens Travel & Hotel Management Corp. (OTHM) Finalizes Reve Oriens Travel & Hotel Management Corp. (OTHM) Finalizes Reverse Stock Split – Shareholder Participation Intact
Oriens Travel & Hotel Management, the next generation international hotel brand operator, which recently merged with E-Network de Costa Rica SA (“E-Net”) and is now known as Pure Hospitality Solutions, Inc., has accomplished its reverse split. With the news comes the completion of the initial restructuring and brings the capitalization table closer to supporting the true value of the company’s newly acquired assets and revenue.
Melvin Pereira, president and chief executive officer of Pure Hospitality Solutions commented, “I’d like to take this opportunity to welcome everyone to Pure Hospitality Solutions, a new, invigorated company where management only has growth on our mind. We are fortunate enough to begin our Pure journey with several million dollars in hard assets, real revenues, and a team that knows how to get the job done.
“The Pure portfolio consists of real estate, development projects and proprietary intellectual property/technologies; supported by a management team having a plethora of industry know-how. In addition to newly injected revenues, we have been acquiring assets across Jaco Beach, Costa Rica; one of the top ten countries to invest in real estate. We plan on building the ‘by PURE’ brand into one of the most recognizable names in Jaco. Then, internationally, as our portfolio and reach continue to grow.”
Pure Hospitality now trades under the symbol OTHMD for the next 20 business days and will begin trading under the symbol PNOW, December 10, 2014. Shares of the authorized stock and common outstanding stock have undergone a reverse split at a ratio of 600 to 1. The authorized shares now reflect 200 million shares of common stock, while shares of the outstanding stock now reflect approximately 3,044,825 (subject to adjustment due to the effect of rounding fractional shares into whole shares). Shareholders holding between 1 share and 139,800 shares of the company’s common stock were “rounded up” to 233 shares of the common stock following the reverse.
Pereira instituted the round up program specifically to ensure that no shareholder was reversed out of the stock; thereby keeping shareholder participation in tact.
For more information on the company visit www.orienscorp.com
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