Due to anomalies in trading prices and resulting non-compliance with market regulations, The LGL Group Inc. of Orlando, Florida recently announced that it received notice of delisting from the New York Stock Exchange (NYSE), with proceedings to delist the firm’s warrants.
The communication from NYSE MKT LLC stipulated that the action was due to an “abnormally low” trading price; and trading in the warrants — expiring Aug. 6, 2018 — was suspended after market hours on Feb. 24.
LGL Group warrants became available for trading on the over-the-counter market — under the symbol “LGLPW” — as of Feb. 25.
The company’s common stock continues to be listed on NYSE MKT, as the common stock is unaffected by warrant-related delisting proceedings. The LGL Group does not plan to file any appeals related to the decision.
Regulation staff at NYSE MKT said that application procedures to the Securities and Exchange Commission (SEC) will be underway shortly.
The LGL Group Inc. manufactures and markets highly engineered electronic components used to control the frequency or timing of signals in electronic circuits. It operates and distributes its products through MtronPTI, its wholly owned subsidiary.
The business maintains design and manufacturing facilities in Yankton, South Dakota and Noida, India, with local offices in Sacramento, California and Hong Kong.
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