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Subsequent Events | 9 Months Ended
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Sep. 30, 2013
Subsequent Events [Abstract] |
Subsequent Events | 13. SUBSEQUENT EVENTS Name Change On October 15, 2013, our Board of Directors approved changing our name from Primus Telecommunications Group, Incorporated to PTGi Holding, Inc. The name change will be effected pursuant to Section 253 of the General Corporation Law of the State of Delaware by the merger of our wholly owned subsidiary, PTGI Name Change, Inc., into us. On October 28, 2013, our Amended and Restated Certificate of Incorporation was amended to change our name to PTGi Holding, Inc. upon the filing of a Certificate of Ownership with the Secretary of State of the State of Delaware. The “PTGI” New York Stock Exchange ticker symbol remains the same. Delisting of our Common Stock On November 4, 2013, the Board of Directors has approved a plan to (i) voluntarily delist its common stock from the New York Stock Exchange (“NYSE”) and (ii) deregister the Company’s common stock under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), and therefore, terminate its obligations to file periodic and current reports with the SEC. The Company has submitted written notice to the NYSE of its decision to voluntarily delist its common stock and to terminate the registration of its common stock under the Exchange Act. The Company intends to file a Form 25 with the SEC to voluntarily delist its common stock on or about November 18, 2013. Delisting from NYSE is expected to become effective 10 days after the filing date of the Form 25. Following delisting and provided that PTGi continues to meet the applicable legal requirements, it intends to file a Form 15 with the SEC on or about December 3, 2013 to terminate the registration of its common stock under the Exchange Act. PTGi expects the termination of registration under the Exchange Act will become effective 90 days after the date of the filing of the Form 15 with the SEC. However, upon filing of the Form 15, PTGi’s obligation to file certain reports and forms with the SEC, including Forms 10-K, 10-Q, and 8-K, will immediately be suspended. After its shares have been delisted from the NYSE, PTGi’s shares may be quoted on the Pink OTC Markets Inc. electronic quotation service if market makers commit to make a market in the Company’s shares. The Pink Sheets is an electronic network through which participating broker-dealers can make markets, and enter orders to buy and sell shares of issuers. However, PTGi can provide no assurance that trading in its common stock will continue on the Pink Sheets or otherwise. Moreover, PTGi’s common stock may become more illiquid once it is no longer traded on the NYSE, which could negatively impact market prices for the Company’s stock and make it more difficult for shareholders to sell their shares.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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