ONEONTA, AL, April 8, 2014 /CNW/ - Otelco Inc. (NASDAQ: OTEL), a wireline telecommunication services provider in Alabama, Maine, Massachusetts, Missouri, New Hampshire, Vermont and West Virginia, announces that it has applied for a decision from the Ontario Securities Commission, as the principal regulator that it is no longer a reporting issuer in any jurisdiction in Canada.
If the requested decision is made by the Ontario Securities Commission, the Company will cease being a reporting issuer in any jurisdiction in Canada and, as a result, will no longer be required to file financial statements and other continuous disclosure documents with Canadian securities regulatory authorities.
Notwithstanding a decision that the Company is not a reporting issuer in Canada, the Company will continue to file all financial statements and other continuous disclosure materials required to filed by it in accordance with applicable laws and regulations of the United States, including the rules of the NASDAQ. All such continuous disclosure documents of the Company are publicly available to all securityholders on the investor relations page of the Company's website at www.OtelcoInc.com and the Company securityholders resident in Canada will continue to receive copies of continuous disclosure documents that are required to be delivered to securityholders in the United States in the same manner and at the same time as is required under the applicable laws and regulations in the United States, including the rules of the NASDAQ.
Otelco Inc. provides wireline telecommunications services in Alabama, Maine, Massachusetts, Missouri, New Hampshire, Vermont and West Virginia. The Company's services include local and long distance telephone, digital high-speed data lines, transport services, network access, cable television and other related services. With more than 97,000 voice and data access lines, which are collectively referred to as access line equivalents, Otelco is among the top 25 largest local exchange carriers in the United States based on number of access lines. Otelco operates eleven incumbent telephone companies serving rural markets, or rural local exchange carriers. It also provides competitive retail and wholesale communications services and technology consulting, managed services and private/hybrid cloud hosting services through several subsidiaries. For more information, visit the Company's website at www.OtelcoInc.com.
SOURCE: Otelco Inc.
For further information: Curtis Garner, Chief Financial Officer, Otelco Inc., 205-625-3580, Curtis@otelcotel.com