USA: Fletcher's Announces Decision to De-List From Nasdaq
Fletcher's Fine Foods Ltd. (Nasdaq: FLCHF; Toronto: FFF) announced today that it has filed a Form 15 with the United States Securities and Exchange Commission in order to terminate the Company's registration under Section 12(g) of the Securities Exchange Act of 1934, and is suspending its duty to file reports under Section 13 and 15(d) of the Act. As a result of the filing of the Form 15, the Company's obligation to file regular reports with the Commission is immediately suspended and the de-registration of its common shares will take effect within 90 days, provided that the Company has requested that the de-registration be made effective on May 31, 2000.The Company's common shares will cease to be quoted on Nasdaq following the close of business on Friday, May 5, 2000. The number of shareholders of the Company's common shares in the United States is less than one hundred.The Company's shares will remain registered in Canada and listed on the Toronto Stock Exchange."Over the last two years substantially all of our shareholder base has consolidated to Canada," said George Paleologou, Vice President and CFO. "As a result, we can no longer justify the cost of maintaining our public issuer status in the United States," added Mr. Paleologou.Fletcher's has been engaged in the food processing business since 1917 and has manufacturing facilities in Alberta, British Columbia, Oregon, Saskatchewan and Washington. In addition, Fletcher's holds an interest in three manufacturing facilities located in Ontario.For further information, please contact George Paleologou, V.P. & CFO, Fletcher's Fine Foods Ltd. at 604-656-3133.
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