LGL Group Announces Suspension of Warrants from Trading and Commencement of NYSE MKT Delisting Procedures
February 26 2016 - 4:05PM
Business Wire
The LGL Group, Inc. (NYSE MKT:LGL) today announced that it
received notice from the staff of NYSE Regulation that proceedings
have commenced to delist the Company’s warrants expiring August 6,
2018 from NYSE MKT LLC due to non-compliance with Section 1003 of
the NYSE MKT Company Guide based on the abnormally low trading
price of the warrants. Trading in the warrants on NYSE MKT was
suspended after market hours on February 24, 2016.
The Company’s common stock continues to be listed on NYSE MKT,
and the Company’s common stock and its operations are not affected
by the delisting proceedings related to the Warrants.
NYSE MKT stated that it will apply to the Securities and
Exchange Commission to delist the Company’s warrants upon
completion of all applicable procedures. The Company does not
intend to appeal the delisting determination and, therefore, it is
expected that the warrants will be delisted. Effective February 25,
2016, the Warrants became available for trading on the
over-the-counter market under the symbol “LGLPW.”
About The LGL Group, Inc.
The LGL Group, Inc., through its wholly-owned subsidiary
MtronPTI, manufactures and markets highly-engineered electronic
components used to control the frequency or timing of signals in
electronic circuits. These components ensure reliability and
security in aerospace and defense communications, synchronize data
transfers throughout the wireless and internet infrastructure, and
provide low noise and base accuracy for lab instruments.
Headquartered in Orlando, Florida, the Company has additional
design and manufacturing facilities in Yankton, South Dakota and
Noida, India, with local sales offices in Sacramento, California
and Hong Kong.
For more information on the Company and its products and
services, contact Patti Smith at The LGL Group, Inc., 2525 Shader
Rd., Orlando, Florida 32804, (407) 298-2000, or visit
www.lglgroup.com and www.mtronpti.com.
Caution Concerning Forward Looking Statements
This press release may contain forward-looking statements made
in reliance upon the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements include all statements that do not relate solely to
historical or current facts, and can be identified by the use of
words such as “may,” “will,” “expect,” “project,” “estimate,”
“anticipate,” “plan,” “believe,” “potential,” “should,” “continue”
or the negative versions of those words or other comparable words.
These forward-looking statements are not guarantees of future
actions or performance. These forward-looking statements are based
on information currently available to us and our current plans or
expectations, and are subject to a number of uncertainties and
risks that could significantly affect current plans, anticipated
actions and our future financial condition and results. Certain of
these risks and uncertainties are described in greater detail in
our filings with the Securities and Exchange Commission. We are
under no obligation to (and expressly disclaim any such obligation
to) update or alter our forward-looking statements, whether as a
result of new information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20160226006137/en/
The LGL Group, Inc.Patti A. Smith,
407-298-2000pasmith@lglgroup.com
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