Oriens
Travel & Hotel Management, the Next Generation International Hotel Brand
Operator recently merged with E-Network de Costa Rica SA, announced today that
the company has filed to be known as Pure Hospitality Solutions and anticipates
that FINRA will soon conclude its review. The outcome will result in finalizing
the anticipated reverse stock split, name and symbol change during November
2014.
The
company shares post restructuring will be a 600 to 1 reverse split.
Simultaneously, all stockholders who hold 1 to 139,800 shares of the company’s
stock will be rounded up to maintain their equity ownership after the reverse.
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 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.
Mr.
Pereira commented, “I need the shareholders of Oriens to understand one thing.
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 summarized by saying, “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.”
Oriens
Travel & Hotel Management Corp. works in the operation of hotels and
resorts primarily in the United States and Central America under the Hotel PURE
brand. Additionally, 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.
For more
information on the company, visit www.orienscorp.com
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