Stock Round-Up Affords Benefit to Shareholders through the Transition
Las Vegas , NV / ACCESSWIRE / November 3, 2014 / Oriens Travel & Hotel Management Corp. (OTC Pink: OTHM) (PINKSHEETS: OTHM), the Next Generation International Hotel Brand Operator recently merged with E-Network de Costa Rica SA ("E-Net") - announced today that the Company has already filed to be known as Pure Hospitality Solutions and anticipates that FINRA will soon conclude its review, finalizing the anticipated reverse stock split; all being well, effectuating the reverse, name and symbol change during November 2014.
The surviving Company's shares will be restructured to reflect a 600 to 1 reverse split. At that time, all stockholders who hold between 1 share and 139,800 shares of the Company's stock (as of the X-Date), will be rounded up to maintain their equity ownership post reverse. As mentioned previously, this 'Round-Up' program was instituted by the Company in an attempt to preserve the value of every shareholder, as it is management's intention to build value, not take it away.
The ratio of the reverse split was determined by the Board pursuant to a proposal to merge the Company with E-Net, and to amend the Company's Articles of Incorporation, to affect a reverse split of its common stock. The proposal to institute a round-up program was requested by the [then] principal of E-Net, Mr. Melvin Pereira - now President and CEO of Oriens, as a condition to the acquisition/merger, as well as his assuming the executive role at Oriens.
"I need the shareholders of Oriens to understand one thing," stated Mr. Pereira. "The Company as you once knew it, was struggling to execute. Oriens was holding an insurmountable amount of debt, with little assets, minimal revenue if any at all, and just a lack of ability at the executive level to cause a lot of discomfort. I am confident that this reverse split will cause far less discomfort in comparison, and support the foundation of building value that has already been delivered to the Company through this acquisition/merger."
Mr. Pereira concluded, "as Keith Meister would say, 'Embrace change now,' as I intend to run this Company with no care for what once was, but to focus solely on what is and what must be accomplished and I will not be deterred."
About Oriens Travel & Hotel Management Corp. (www.orienscorp.com) (PINKSHEETS: OTHM) engages in the operation of hotels and resorts primarily in the United States and Central America under the Hotel PURE brand. The company also operates Friendly Reservations Online, a proprietary and sophisticated online booking system designed to execute reservations capture through Hotel PURE consumer facing websites, as well as individual hotel websites operated by Oriens on behalf of hotels branded under the Hotel PURE brand. Oriens is based in Las Vegas, Nevada.
Blog: http://orienscorp.wordpress.com/
Twitter: @orienscorp
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Related Links:
Pure Hospitality Solutions, Inc. Pinterest (BE): http://www.pinterest.com/purehss/bahia-encantada/
Pure Hospitality Solutions, Inc. Bahia-Encantada Video: http://www.purenow.solutions/Videos/PURE.mp4
Pure Hospitality Solutions, Inc. Facebook: https://www.facebook.com/PUREnow
Pure Hospitality Solutions, Inc.Twitter: https://twitter.com/purehss
Pure Hospitality Solutions, Inc.Google +: https://plus.google.com/+PurenowSolutionsplus/
Safe Harbor
Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company's customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission.
CONTACT:
Team Oriens
IR Div. (702) 483-0318
SOURCE: Oriens Travel & Hotel Management Corp.