Thomas Group Announces Intent to Voluntarily Delist from NASDAQ

Thomas Group TGIS today announced that it has given formal written notice to The NASDAQ Stock Market of its intention to voluntarily delist its common stock from the NASDAQ Capital Market. The decision to delist is based primarily on the Company's desire to conserve resources, the likelihood that the Company will continue to fail to meet the requirements for continued NASDAQ listing in the near future and the recognition that the benefits of maintaining the Company's NASDAQ listing have declined. The Company believes the benefits of its NASDAQ listing do not justify the expense and administrative burdens of maintaining the listing given the limited trading volume and low price of its common stock. The Company intends to file a Form 25 with the SEC on or about June 6, 2011 to effect the voluntary delisting, and expects that trading in its common stock will be suspended on the date the Form 25 is filed, with the official delisting of its common stock becoming effective ten days thereafter, on or about June 16, 2011.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsDiversified Commercial & Professional ServicesIndustrials
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!