OTC Markets Group Inc. Seeks Shareholder Approval of Planned Change in Auditors
NEW YORK – August 30, 2011– OTC Markets Group Inc. (the “Company”) (OTCQX: OTCM), the financial information and technology services company that provides the world’s largest electronic marketplace for broker-dealers to trade unlisted stocks, announced today that it is seeking shareholder ratification of Deloitte Touche LLP (“Deloitte”) as its new independent auditors at the Company’s annual meeting of shareholders on September 20, 2011. The appointment of Deloitte is also subject to Deloitte’s client approval process and the Company’s signing of a formal engagement letter. The Company plans to have Deloitte replace the Company’s previous independent auditors, Pustorino, Puglisi Co., LLP (“Pustorino”).
The selection of Deloitte as the Company’s new independent auditors was made by the Audit Committee of the Board of Directors.
The Company’s change in auditors is not the result of any disagreement between the Company and Pustorino on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
The Company will announce its formal hiring of Deloitte when the Audit Committee’s selection has been ratified by shareholders, Deloitte’s client approval process has been completed and an engagement letter has been signed.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world’s largest electronic marketplace for broker-dealers to trade unlisted stocks. Our OTC Link™ platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. We categorize the wide spectrum of OTC-traded companies into three tiers – OTCQX® (the quality-controlled marketplace for investor friendly companies), OTCQB® (the U.S. reporting company marketplace for development stage companies) and OTC Pink™ (the speculative trading marketplace) – so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group makes the unlisted markets more transparent, informed, and efficient, visit www.otcmarkets.com.
Dan Zinn, OTC Markets Group Inc., +1 (212) 896-4413, firstname.lastname@example.org