LOS ANGELES, Feb. 7, 2005 (PRIMEZONE) -- Victory Capital Holdings Corporation (OTCBB:VTYC) announces today that it is retiring 30,000,000 shares of Treasury Stock. This action effectively reduces by approximately 49% the issued shares of Victory Capital Holdings Corporation.
"We decided to retire these shares in order to clarify our share structure for our shareholders. We are committed to pursue aggressive and whenever possible, non-dilutive strategies that will be beneficial to Victory's growth. Reducing by approximately 49% the issued shares of stock is a significant step towards clarifying our share structure and improving the public market's perception in Victory's management," stated Jon Fullenkamp Chairman & CEO.
Victory Capital Holdings Corporation (VTYC), organized in Nevada, is a publicly traded company. The Company is designed to leverage the assets of existing, proven technology and to infuse those assets with marketing, management and financial support to become the recognized leader in its space. Http://www.vtyc.com
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission.