LOS ALTOS, Calif. -- (Business Wire)
OPTi Inc. (OTCBB:OPTI) announced today that its board of directors
(“Board”) decided to deregister the Company’s common stock from the
reporting requirements of the Securities Exchange Act of 1934, as
amended (“Exchange Act”). The Board determined, after careful
consideration, that deregistration is in the best interests of the
Company and its shareholders.
The Company is eligible to deregister its stock because the Company has
fewer than 300 shareholders of record. The Company intends to file a
Form 15 on or about July 12, 2013 with the U.S. Securities and Exchange
Commission (“SEC”) to commence deregistration. Upon filing of the Form
15, the Company will no longer be obligated to file reports on Forms
10-K, 10-Q or 8-K, but intends to post quarterly financial reports on
its website. The Company will save accounting, legal and administrative
expenses by deregistering its shares.
Information set forth in this release may constitute and include forward
looking information made within the meaning of Section 27A of the
Security Act of 1933, as amended and Section 21E of the Securities and
Exchange Act of 1934, as amended, that involves risks and uncertainties.
The final outcome of the Company’s deregistration process may differ
from what is set forth in this release.
Contacts:
OPTi Inc.
Bernard Marren, President & CEO, 650-213-8550
Michael
Mazzoni, CFO, 650-213-8550
Source: OPTi Inc.
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