Another big consequence falls on the directors and executive officers, as they are disqualified from being elected to such posts in any other company applying for listing within five years from the delisting
of this company.
The reasons why companies might delist from a major stock exchange are controversial, as is whether delisting
sends a positive, neutral, or negative signal to markets and investors.
However, the issuer must first ensure that it complies with any applicable state law or exchange rules for delisting
, as well as notify both the exchange and the public that it plans to file Form 25.
This press release includes forward-looking statements, made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, regarding the suspension and delisting
of Wolverine's common stock from the NYSE and Wolverine's intent to seek quotation of its common stock on the OTC Bulletin Board.
Following the delisting
, Hartford Life intends to deregister the 7.
As ICOS has fewer than 300 stockholders of record, ICOS' obligation to file reports with the SEC should be suspended immediately upon the delisting
of the common shares.
Company Receives Notice of Potential Nasdaq Delisting
Reason for voluntary delisting
the company's shares:
The hearing request will automatically stay the delisting
of CFNB's common stock pending the outcome of the Panel's decision.
Therefore, Penn Octane's common stock is subject to delisting
from the NASDAQ Capital Market at the opening of business on June 1, 2006.
At that time, Saflink would have the right to appeal Nasdaq's determination to delist its securities to a listing qualifications panel, which would stay the effect of the delisting
pending a hearing on the matter before the panel.
We are entitled to appeal the Exchange's determination to initiate delisting
proceedings on or before May 2, 2006 and intend to file such appeal and request for a hearing before a committee of the Exchange.