Enova Systems announces delisting from NYSE MKT
26 October 2012
Electric drive systems company Enova Systems, Inc. received notification on 24 October from the NYSE MKT (the Exchange, formerly known as the NYSE Amex) stating that, because the company was not in compliance with certain of the Exchange’s continued listing standards, the Exchange intends to strike the common stock of the company from the Exchange by filing a delisting application with the Securities and Exchange Commission (SEC). (Earlier post.)
Enova does not intend to request an appeal hearing of the Exchange’s delisting determination. Enova anticipates that the delisting of its common stock from the Exchange will be effective at the opening of the Exchange on Wednesday, 31 October 2012.
Enova expects that its common stock will trade on the OTCQB Marketplace under its current trading symbol “ENA” upon delisting from the Exchange, or as soon as practicable thereafter. The OTCQB is a market tier operated by the OTC Market Group Inc. for over-the-counter traded companies.
Enova expects that the admission of its common stock for trading on London Stock Exchange’s AIM market will be unaffected by the NYSE MKT’s determination.
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