Paragon Technologies Voluntarily Delists and Deregisters Stock
2009年5月1日 - 1:12AM
PRニュース・ワイアー (英語)
EASTON, Pa., April 30 /PRNewswire-FirstCall/ -- Paragon
Technologies, Inc. (NYSE Amex: PTG), a leading supplier of "smart"
material handling systems and "software-driven" warehouse and
distribution center solutions, today announced that it has filed
with the NYSE Amex and the Securities and Exchange Commission (the
"SEC") a Form 25 relating to the delisting and deregistration of
its common stock. Accordingly, the Company anticipates that trading
of its common stock on the NYSE Amex may be suspended on April 30,
2009 and that its common stock will be delisted from the NYSE Amex
on or about May 11, 2009, and on or about that date, the Company
will file with the SEC a Form 15, Notice of Termination and
Suspension of Duty to File, to terminate its reporting obligations
under the Securities Exchange Act of 1934, as amended (the
"Exchange Act"). When the Form 15 has been filed, the Company's
obligations to file certain reports with the SEC, including Forms
10-K, 10-Q and 8-K, will immediately be suspended. The Company
expects that the deregistration of its common stock will become
effective 90 days after the date the Form 15 is filed with the SEC.
The Company is eligible to deregister its common stock because it
has fewer than 300 stockholders of record. Following the delisting
and deregistration of the Company's common stock, it is expected
that trading of the Company's common stock by continuing
stockholders may be effected through privately negotiated
transactions or, if the Company qualifies, in the Pink Sheets (a
centralized quotation service that collects and publishes market
maker quotes for securities). The Company has engaged a market
maker who has applied for the quotation of the Company's common
stock in the Pink Sheets. The Company has been working with the
market maker to have the quotation in the Pink Sheets effective as
soon as reasonably possible. If the Company's common stock is
listed and traded in the Pink Sheets, the Company intends to try to
comply with rules permitting its common stock to be continuously
quoted and traded in the Pink Sheets. However, there is no
assurance that either the Company or a market maker will comply
with such rules. More information about the Pink Sheets can be
obtained from its website at http://www.pinksheets.com/. Len
Yurkovic, Acting CEO of Paragon Technologies, commented, "The
Company's Board of Directors previously authorized the delisting
and deregistration of the Company's common stock after concluding
that the consequences of remaining an SEC-reporting company,
including the significant costs associated with regulatory
compliance, outweighed the current benefits of public company
status to the Company and its stockholders." Paragon's SI Systems'
branded technologies drive productivity at Fortune 1000 companies
and the United States Government. About Paragon Technologies
Paragon Technologies is a leader in integrating material handling
systems and creating automated solutions for material flow
applications. SI Systems' branded technologies and material
handling solutions address unit assembly in manufacturing
operations and order fulfillment applications. One of the top
material handling systems suppliers worldwide, SI Systems' leading
clients have included the United States Postal Service, BMG,
Peterbilt, Honda, and Maybelline. Cautionary Statement. Certain
statements contained herein are not based on historical fact and
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and the Securities and
Exchange Commission rules, regulations and releases. Paragon
intends that such forward-looking statements be subject to the safe
harbors created hereby. Among other things, the forward-looking
statements regard Paragon's earnings, liquidity, financial
condition, review of strategic alternatives, and other matters.
Words or phrases denoting the anticipated results of future events,
such as "anticipate," "does not anticipate," "should help to,"
"believe," "estimate," "is positioned," "expects," "may," "will,"
"is expected," "should," "continue," and similar expressions that
denote uncertainty, are intended to identify such forward-looking
statements. Paragon's actual results, performance, or achievements
could differ materially from the results expressed in, or implied
by, such "forward-looking statements:" (1) as a result of factors
over which Paragon has no control, including the strength of
domestic and foreign economies, sales growth, competition, and
certain cost increases; and (2) if the factors on which Paragon's
conclusions are based do not conform to its expectations. The
forward-looking statements contained in this press release may
become outdated over time. Paragon does not assume any
responsibility for updating any forward-looking statements.
Furthermore, achievement of the objectives of the Company is
subject to certain risks, including, but not limited to, those
risks outlined in Paragon's filings with the Securities and
Exchange Commission, including its annual report on Form 10-K for
the year ended December 31, 2008. This press release and prior
releases are available at http://www.ptgamex.com/. DATASOURCE:
Paragon Technologies, Inc. CONTACT: Leonard S. Yurkovic, Acting CEO
of Paragon Technologies, Inc., +1-610-252-3205, +1-610-252-3102,
Fax Web Site: http://www.ptgamex.com/
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