Business & Finance
Mon, April 18, 2011Sun, April 17, 2011Fri, April 15, 2011Thu, April 14, 2011Wed, April 13, 2011Majestic Capital Announces Delay in Filing Annual Report on SEC Form 10-K
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Published in Business and Finance on Thursday, April 14th 2011 at 15:45 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
HAMILTON, Bermuda--([ BUSINESS WIRE ])--Majestic Capital, Ltd. (aMajestic Capitala or the aCompanya) (Nasdaq: MAJC) today announced that it was unable to timely file its Annual Report on Form 10-K with the Securities and Exchange Commission (SEC) for the year ended December 31, 2010 within the 15 day extension period allowed under SEC Form 12b-25.
Majestic Capital filed Form 12b-25 with the SEC on March 31, 2011 but will not be able to file its Form 10-K within the 15 day extension period due to:
- Majestic Capitala™s expectation that the California Department of Insurance will place Majestic Insurance Company, Majestic Capitala™s primary insurance subsidiary, into conservatorship on or about April 20, 2011;
- the need to evaluate Majestic Capitala™s business and financial position in view of the foregoing and its impact on various disclosures to be made in Majestic Capitala™s Annual Report on Form 10-K; and
- in light of the above factors, the additional time required to allow the Companya™s independent registered public accountants to complete the audit of the Company for the year ended December 31, 2010.
About Majestic Capital, Ltd.
Majestic Capital, through its subsidiaries, is a specialty provider of workersa™ compensation insurance products and services. Further information about Majestic Capital and its business can be found on Majestic Capitala™s website at [ http://www.MajesticCapital.com ].