I'm wondering if anyone has heard about the proposed sale of Surrey/Grand Crowne Resorts? Two press releases were issued about it in March, but I haven't found any mention of it on the company website or in the Branson papers or, most surprising, here on TUG. Are there any owners here who have been notified in any way?
If this is news to anyone, it basically goes like this (in a nutshell): A public company (pink sheets) called The X-Change Corp., based in Dallas, TX, announced on March 7 that they are buying Surrey Vacation Resorts (Grand Crowne Resorts). The terms of the acquisition will involve a change in control of the Company and the appointment of new directors.
In anticipation of closing the acquisition, on March 9 The X-Change Corp. issued another press release announcing the addition of John L. McGuire to its board of directors along with sales results for the first two months of 2011 of Surrey Vacation Resorts (that was interesting!).
Nothing in either press release had anything to say about who will actually run the company or manage the resorts. There have been no further press releases issued since then.
This is essentially a reverse merger, wherein The X-Change Corp. will change its name to Grand Crowne Resorts and GCR will thus become a publicly traded, pure play timeshare company. Theoretically at least, this would allow GCR to raise money for expansion.
The X-Change Corp. is kind of an odd company, if you ask me (which you didn't), and the bio of the President/CEO had me scratching my head. And I wonder if the sale will actually proceed and I wonder why GCR doesn't seem to have mentioned it, or why the news doesn't seem to have traveled very far, and...?
If this is news to anyone, it basically goes like this (in a nutshell): A public company (pink sheets) called The X-Change Corp., based in Dallas, TX, announced on March 7 that they are buying Surrey Vacation Resorts (Grand Crowne Resorts). The terms of the acquisition will involve a change in control of the Company and the appointment of new directors.
In anticipation of closing the acquisition, on March 9 The X-Change Corp. issued another press release announcing the addition of John L. McGuire to its board of directors along with sales results for the first two months of 2011 of Surrey Vacation Resorts (that was interesting!).
Nothing in either press release had anything to say about who will actually run the company or manage the resorts. There have been no further press releases issued since then.
This is essentially a reverse merger, wherein The X-Change Corp. will change its name to Grand Crowne Resorts and GCR will thus become a publicly traded, pure play timeshare company. Theoretically at least, this would allow GCR to raise money for expansion.
The X-Change Corp. is kind of an odd company, if you ask me (which you didn't), and the bio of the President/CEO had me scratching my head. And I wonder if the sale will actually proceed and I wonder why GCR doesn't seem to have mentioned it, or why the news doesn't seem to have traveled very far, and...?