Chromcraft Revington to Delist, Deregister

April 8, 2013  by in UnCategorized   

By Home Furnishings Business in Financial Reports on April 9, 2013

Furniture supplier Chromcraft Revington (NYSE MKT: CRC) will voluntarily delist its common stock from the MYSE MKT and deregister from the reporting requirements of the Securities and Exchange Commission. 

The company's board of directors believes this is in the best interest of the company, which has less than 300 shareholders of record. In a release, the company said it had not been contacted by the NYSE MKT, but believes that it is no longer compliant with minimum listing standards.

Chromcraft Revington will file its paperwork April 18 for the delisting. The company will file April 29 paperwork with the SEC to suspend its reporting requirements.

Following delisting and deregistering, the company intends to provide quarterly and annual information regarding its performance through postings to its Web site and press releases.

The delisting is expected to take effect April 29.

"These actions are designed to reduce our operating costs," said Ronald Butler, chairman and CEO. "The consequences of remaining an SEC-reporting company, which includes significant costs and management time associated with regulatory compliance, outweighed the current benefits of being a NYSE MKT listed company."