Continental Materials Corporation Files Form 25 in Connection with its Previously Announced Plan to Voluntarily Delist and Deregister its Common Stock
CHICAGO, May 01, 2020 (GLOBE NEWSWIRE) -- Continental Materials Corporation (NYSE American: CUO, the Company), a diversified light manufacturing company operating primarily in two industry groups, Heating, Ventilation and Air Conditioning (HVAC) and Construction Products, announces that, on May 1, 2020, the Company filed with the Securities and Exchange Commission (the SEC) a Form 25 Notification of Removal from Listing in connection with its previously announced plan to voluntarily delist its Common Stock, $0.25 par value per share (the Common Stock), from the NYSE American Stock Exchange (the Exchange).
- CHICAGO, May 01, 2020 (GLOBE NEWSWIRE) -- Continental Materials Corporation (NYSE American: CUO, the Company), a diversified light manufacturing company operating primarily in two industry groups, Heating, Ventilation and Air Conditioning (HVAC) and Construction Products, announces that, on May 1, 2020, the Company filed with the Securities and Exchange Commission (the SEC) a Form 25 Notification of Removal from Listing in connection with its previously announced plan to voluntarily delist its Common Stock, $0.25 par value per share (the Common Stock), from the NYSE American Stock Exchange (the Exchange).
- The Company expects the delisting to be effective May 11, 2020, at which time the Common Stock will no longer be traded on the Exchange.
- As previously announced, the Company plans to file with the SEC a Form 15 on or about May 11, 2020, to deregister its Common Stock under Section 12(g) of the Securities Exchange Act of 1934, as amended (the Exchange Act) and to suspend its reporting obligations under Section 15(d) of the Exchange Act, as the Common Stock is held by less than 300 stockholders of record.
- In addition, the number of shares of Common Stock which are publicly held (exclusive of holdings of officers, directors, controlling shareholders or other family or concentrated holdings) is less than 200,000 as a result the tender offer made by Bee Street Holdings LLC which was completed at midnight at the end of April 17, 2020, and the Common Stock may consequently no longer be eligible for listing on the Exchange.