Tecnoglass Completes Delisting of Shares from the Colombia Stock Exchange
November 19 2020 - 7:00AM
Tecnoglass, Inc.
(NASDAQ: TGLS) ("Tecnoglass" or the
"Company"),
a leading manufacturer
of architectural glass, windows, and associated aluminum products
for the global residential and commercial construction industries,
today announced that the Company has completed its
previously-disclosed delisting of its ordinary shares from the
Colombia Stock Exchange, the “Bolsa de Valores de Colombia,” upon
which the shares listed on that exchange under the ticker symbol
“TGLSC” ceased trading.
The Colombia stock listing was secondary to
Tecnoglass' primary listing on The Nasdaq Stock Market (NASDAQ)
under the ticker symbol “TGLS”, which now serves as the exclusive
exchange to transact Tecnoglass ordinary shares. With over 99% of
Tecnoglass shares traded on the NASDAQ over the past two years, the
delisting of secondary shares is expected to save on expenses, time
and administrative resources associated with the Company’s listing
on multiple exchanges.
Santiago Giraldo, Chief Financial Officer of
Tecnoglass, commented, “The completed de-listing marks another step
in our U.S. advancement strategy, where we source over 90% of our
revenues and now execute the majority of our capital markets
transactions. Building on the success of our recent debt
refinancing on highly favorable terms through a consortium of
mostly U.S and European based lenders, the exclusive listing of our
shares on Nasdaq further simplifies our capital structure and we
believe best aligns with the interests of our predominantly
U.S.-based shareholders.”
About Tecnoglass
Tecnoglass Inc. is a leading manufacturer of
architectural glass, windows, and associated aluminum products for
the global residential and commercial construction industries.
Tecnoglass is the #1 architectural glass transformation company in
Latin America and the second largest glass fabricator serving the
United States. Headquartered in Barranquilla, Colombia, the Company
operates out of a 2.7 million square foot vertically-integrated,
state- of-the-art manufacturing complex that provides easy access
to the Americas, the Caribbean, and the Pacific. Tecnoglass
supplies over 1000 customers in North, Central and South America,
with the United States accounting for more than 80% of revenues.
Tecnoglass' tailored, high-end products are found on some of the
world's most distinctive properties, including the El Dorado
Airport (Bogota), 50 United Nations Plaza (New York), Trump Plaza
(Panama), Icon Bay (Miami), and Salesforce Tower (San Francisco).
For more information, please visit www.tecnoglass.com or view our
corporate video at https://vimeo.com/134429998.
Forward Looking Statements
This press release includes certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding future financial performance, future growth and future
acquisitions. These statements are based on Tecnoglass’ current
expectations or beliefs and are subject to uncertainty and changes
in circumstances. Actual results may vary materially from those
expressed or implied by the statements herein due to changes in
economic, business, competitive and/or regulatory factors, and
other risks and uncertainties affecting the operation of
Tecnoglass’ business. These risks, uncertainties and contingencies
are indicated from time to time in Tecnoglass’ filings with the
Securities and Exchange Commission. The information set forth
herein should be read in light of such risks. Further, investors
should keep in mind that Tecnoglass’ financial results in any
particular period may not be indicative of future results.
Tecnoglass is under no obligation to, and expressly disclaims any
obligation to, update or alter its forward-looking statements,
whether as a result of new information, future events and changes
in assumptions or otherwise, except as required by law.
Investor Relations:Santiago
GiraldoCFO305-503-9062investorrelations@tecnoglass.com
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