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Petel Inc Announce Approval of 15c211 Filing and target OTC Bulletin Board Move
Monday, 11 June 2007
The Board of Petel Incorporated can confirm that Spartan Securities, the Market Maker Sponsor, received approval for the recently submitted 15c211 filing late on Friday 8th June. This upgrades Petel Incorporated from “unsolicited” to “solicited” status on the Pink Sheets OTC exchange.
The approval represents a significant step in the Company’s objective to up list to the OTCBB exchange. The Company will now work with Spartan Securities to move to the OTC Bulletin Board at the earliest possible opportunity.
Attaining "solicited" status gives further confidence to investors and demonstrates the delivery of the published business plan. Exceeding targets, corporate expansion and NASD approval for the Company's 211 underlines the progression and the achievements being made by the Company.
CEO David Morton “The approval of our 15c211 submission by the NASD capped another superb week for Petel. We are progressing the merger with the UK Company, with today being the cut-off date for the dividend shares, we are ahead of our targets, and now we have achieved a very important step in the process of taking Petel Incorporated onto the OTC Bulletin Boards, which has always been our objective. We will be talking with our advisors today to ensure we achieve the move to the OTC Bulletin Board at the earliest possible opportunity.”
The Board would like to thank Spartan Securities for their support in the filing.
Petel Incorporated’s five year forecasts and business plan are included in the Corporate Overview, published on the Investor Relations page.
AI
