No announcement yet.

SGI delisted from NYSE

  • Filter
  • Time
  • Show
Clear All
new posts

  • SGI delisted from NYSE

    MOUNTAIN VIEW, Calif., (November 1, 2005)—SGI announced today that it has been advised by the New York Stock Exchange (NYSE) that its common stock - ticker symbol SGI - and its 6.5% Senior Secured Convertible Notes due June 1, 2009 - ticker symbol SGI 09 - will no longer be traded on the NYSE beginning with the opening of business on Monday, November 7, 2005. The Company expects its common stock will be quoted on the OTC Bulletin Board.

    As previously reported, SGI received notice from the NYSE on May 9, 2005 that SGI's common stock had fallen below the NYSE's minimum share price standard for continued listing. The NYSE's standard requires that a company's common stock trade at a minimum average closing share price of $1.00 during a consecutive 30-day trading period. SGI's common stock has not returned to compliance with this standard.

    On November 1, 2005, the NYSE notified SGI of its decision to suspend trading and stated that an application to the Securities and Exchange Commission to delist these securities from the NYSE is pending the completion of applicable procedures.

    This news release contains forward-looking statements relating to future events that involve risks and uncertainties. Future events could differ materially from the expectations discussed or implied herein. Factors that might cause such a difference include risks relating to SGI's ability to have its securities quoted on the OTC Bulletin Board or any other securities quotation service and other risks as detailed from time to time in SGI's periodic reports that are filed with the Securities and Exchange Commission, including SGI's annual report on Form 10-K for the year ended June 24, 2005. SGI undertakes no obligation to publicly update or revise any forward-looking statements, whether changes occur as a result of new information, future events or otherwise.
    Who didn't see that coming...
    45 5F E1 04 22 CA 29 C4 93 3F 95 05 2B 79 2A B0
    45 5F E1 04 22 CA 29 C4 93 3F 95 05 2B 79 2A B1
    [ redacted ]