Access Worldwide Announces Intention to Voluntarily Deregister Stock
16 August 2008 - 12:34AM
PR Newswire (US)
ARLINGTON, Va., Aug. 15 /PRNewswire-FirstCall/ -- Access Worldwide
Communications, Inc. (OTC:AWWC) (BULLETIN BOARD: AWWC) , an
established marketing and Business Process Outsourcing ("BPO")
services company announced today that it intends to voluntarily
deregister its stock within thirty days of this announcement.
Access Worldwide Communications, Inc. ("Company," "Us," or "We")
will file a Form 15 with the Securities and Exchange Commission
(the "SEC") to voluntarily deregister its common stock under the
Securities and Exchange Act of 1934, as amended (the "Exchange
Act") and to suspend its obligation to file reports under Section
15(d) of the Exchange Act. Upon filing of the Form 15, our
obligation to file certain reports with the SEC, including Forms
10-K, 10-Q, and 8-K, will immediately cease. We expect that the
deregistration of our common stock will become effective within 90
days after the date of filing of the Form 15 with the SEC. Our
shares may be quoted on the Pink OTC Market ("Pink Sheets") after
we are removed from the Over the Counter Bulletin Board (the
"OTCBB"), but we can give no assurances that any broker will
continue to make a market in the Company's common stock. Similar to
the OTCBB, the Pink Sheets is a provider of pricing and financial
information for the over-the-counter securities markets. It is a
centralized quotation service that collects and publishes market
maker quotes in real time primarily through its website,
http://www.pinksheets.com/, which provides stock and bond price
quotes, financial news and information about securities traded. Our
Directors voted for the deregistration of our common stock after
carefully considering the advantages and disadvantages of
continuing registration. The costs and administrative burdens
associated with being a public company have significantly
increased, particularly in light of new SEC requirements and in
particular Sarbanes-Oxley. Our Board of Directors determined that
the rising costs of compliance, as well as the substantial demands
on management time and resources, outweigh the benefits we receive
from maintaining our registered status. Deregistration will result
in reducing expenses, avoiding higher future expenses and will
enable management to focus more of its time and resources on
operating the Company and enhancing shareholder value. Access
Worldwide is an established marketing and BPO services company that
provides a variety of sales and communication services. Our
spectrum of services include the full range of inbound and outbound
voice services such as customer service, customer acquisition,
helpdesk, and a growing list of IT and back office services among
others. Headquartered in Arlington, Virginia, Access Worldwide has
about 1,000 employees in offices throughout the United States and
the Philippines. More information is available at
http://www.accessww.com/. DATASOURCE: Access Worldwide
Communications, Inc. CONTACT: Mark Wright of Access Worldwide
Communications, Inc., Investor Relations, +1-703-292-5210, Web
site: http://www.accessww.com/
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