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SMALL BUSINESS
Consulier Elects to Delist to Materially Cut Costs and Increase Shareholder Value
Business Wire
Consulier Engineering, Inc. (the “Company”) (NASDAQ:CSLR), announced
today that it has given formal notice to the Nasdaq Stock Market
(“Nasdaq”) of the Company’s intention to voluntarily delist its common
stock from the Nasdaq Capital Market. The Company also announced that it
plans to deregister its common stock under Section 12(b) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”). The
Company currently anticipates that it will file with the Securities and
Exchange Commission (“SEC”) and Nasdaq a Form 25 relating to the
deregistration of its common stock on or about October 28, 2009, with
the delisting of its common stock taking effect no earlier than ten (10)
days thereafter. As a result, the Company expects that the last day of
trading of its common stock on the Nasdaq Capital Market will be on or
about November 6, 2009.
The decision to delist has been reached as part of the Company’s ongoing
strategy of maximizing shareholder value as the direct accounting costs
of maintaining a Nasdaq listing now outweigh the benefits. The Company
has therefore concluded that a listing on Nasdaq does not justify the
expense and administrative burden associated with maintaining such
listing.
In connection with its Nasdaq delisting, the Company will file a Form 15
with the SEC pursuant to which it will terminate the registration of its
common stock and redeemable common stock purchase warrants under Section
12(g) of the Exchange Act. The Company expects that after the filing of
Form 15 its common stock will continue to be traded on the pink sheets.
The Company’s warrants are not traded.
About Consulier Engineering, Inc.
Consulier Engineering, Inc. and its subsidiaries are engaged in medical
software activities, investment activities, and the distribution of
Captain Cra-Z Soap™. For more information about Consulier, please visit
its web site at
www.consulier.com.
Copyright Business Wire 2009
2009-10-29 12:15:00
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