Online Vacation Center Holdings Corp. Concludes Share Repurchase Program
Aug. 31, 2018
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug 31, 2018--Online Vacation Center Holdings Corp. (OTCQX: ONVC) concluded their share repurchase on August 13, 2018. 1,485,551 shares were purchased by the company at a price of $1.25 per share, with remaining outstanding shares equaling 9,776,327. 40 shareholders participated in the share repurchase program, including Online Vacation Center Holdings Trust for 350,000 shares (Edward B. Rudner as Trustee), Deanna Rudner 350,000 shares, and Daniel Rudner for 50,000 shares. The Company used a portion of its cash and equivalents to fund the offer.
Per Stephen Rudner, President, “We believe the Share Repurchase Program was an efficient way to return capital to those shareholders wanting liquidity for all or a portion of their shares.”
Online Vacation Center Holdings Corp. is a Florida holding company, focused on building a network of diversified vacation marketers with a wide range of products that can be cross sold to an extensive customer base. Online Vacation Center Holdings Corp. is one of the country's largest cruise retailers. Its portfolio of travel companies, including Online Vacation Center, Dunhill Vacations News, Luxury Link, Enrichment Journeys and Home Based Travel Experts dba Expedia CruiseShipCenters®, OVC, allows customers to research, plan and purchase a vacation. The Company, based in Fort Lauderdale, Florida, has been in business for 45 years. Additional information can be found at www.onlinevacationcenter.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180831005245/en/
CONTACT: Online Vacation Center Holdings Corp.
John Stunson, 954-377-6370
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA
INDUSTRY KEYWORD: TRAVEL CRUISE VACATION OTHER TRAVEL COMMUNICATIONS MARKETING
SOURCE: Online Vacation Center Holdings Corp.
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PUB: 08/31/2018 09:58 AM/DISC: 08/31/2018 09:58 AM