WOOD RIVER, Ill., July 31 /PRNewswire-FirstCall/ -- YTB International, Inc. ("YTB" or the "Company"), a provider of Internet- based travel booking services for travel agencies and home-based independent representatives in the United States, today announced that the Company's Class A Common shares will commence trading on August 1, 2007 under the new ticker symbol "YTBLA" following the Company's previously announced common stock reclassification. The Company's existing ticker symbol "YTBL" will no longer be valid.
As previously announced in the Company's 2007 Definitive Proxy Statement, upon transfer, except for certain gifts to trusts or family members, each share of Class B Common Stock will automatically convert into a share of Class A Common Stock. Shareholders will receive two shares of Class B, and one share of Class A Common Stock in exchange for each share of existing common stock held as of the close of trading on the effective date, July 31, 2007.
The new CUSIP numbers for the Class A and Class B shares will be 98425R 200 and 98425R 309 respectively.
If shareholders hold shares through a brokerage account or in street name, then no action needs to be taken on their part, as the new shares will automatically be credited to their brokerage accounts, replacing existing shares. If existing shares are held in record name (i.e., through physical certificates), then shareholders will receive a transmittal letter from the Company's transfer agent, American Stock Transfer & Trust Company. Shareholders that receive the transmittal letter will be required to fill out any documentation included as instructed and mail it back, along with their existing common stock certificates, to the transfer agent at the address provided. Once the transfer agent receives the requested information, along with existing common stock certificates, the new Class A and Class B Common shares will be issued.
Further information on both the reclassification and split can be found in the Company's 2007 Definitive Proxy Statement on Schedule 14A, filed with the Securities & Exchange Commission on April 24, 2007.
About YTB International
YTB International, Inc. provides Internet-based travel booking services for travel agencies and home-based independent representatives in the United States, Puerto Rico, and the US Virgin Islands. It operates through three subsidiaries: YourTravelBiz.com, Inc., YTB Travel Network, Inc., and REZconnect Technologies, Inc. YourTravelBiz.com division focuses on marketing on-line travel agencies through a nationwide network of independent business people, known as "Reps." YTB Travel Network division establishes and maintains travel vendor relationships, books travel transactions of on-line travel agents (RTAs, now numbering over 100,000), collects travel payments and licensing fees, and processes travel commissions. Each RTA sells travel through a personalized Internet-based travel Website. The REZconnect Technologies division builds online reservation systems for suppliers within the travel industry.
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
CONTACT: Investor Contacts, Garth Russell, +1-212-896-1250, or Yemi Rose,+1-212-896-1233, both of KCSA Worldwide
Web site: http://www.kcsa.com/