Telvent Announces Commencement of Involuntary Delisting From The NASDAQ Global Select Market
13 10월 2011 - 9:30PM
Telvent (Nasdaq:TLVT), the leading real-time IT solutions and
information provider for a sustainable world, announced today that
it received notification from the Staff of The NASDAQ Stock Market,
Inc. (the "Staff") that the Staff has determined that, in
connection with Schneider Electric Espana's ("Schneider")
successful tender offer whereby Schneider acquired 98.215% of
Telvent's outstanding ordinary shares, Telvent does not comply with
the minimum 750,000 publicly held shares requirement in Listing
Rule 5450(b)(1)(B) and the audit committee composition requirements
set forth in Listing Rule 5605(c)(2).
As a result, the Staff has decided to exercise its discretionary
authority under Listing Rule 5101 to delist Telvent's ordinary
shares. Telvent expects trading of its shares will be suspended at
the opening of business on October 21, 2011 and a Form 25-NSE to be
filed with the Securities and Exchange Commission which will remove
Telvent's ordinary shares from listing and registration on The
NASDAQ Stock Market. To the extent market makers in Telvent's
shares continue to enter bids, Telvent expects its ordinary shares
to be quoted in the OTC Bulletin Board or, in the alternative, in
the Pink Sheets. However, there is no assurance that this will
occur.
About Telvent
Telvent is a global IT solutions and business information
services provider dedicated to helping improve efficiency, safety
and security for the world's leading companies. Telvent serves
markets that are critical to the sustainability of the planet,
including the energy, transportation, agricultural and
environmental sectors. (www.telvent.com)
The Telvent GIT S.A. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6852
About Schneider Electric
As a global specialist in energy management with operations in
more than 100 countries, Schneider Electric offers integrated
solutions across multiple market segments, including leadership
positions in Utilities & Infrastructures, Industries &
Machine manufacturers, Non-residential buildings, Data centers
& Networks, and in Residential. Focused on making energy safe,
reliable, efficient, productive and green, the Group's 110,000 plus
employees achieved sales of 20 billion Euros in 2010, through an
active commitment to help individuals and organizations make the
most of their energy.
www.schneider‑electric.com/company
The Schneider Electric logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10428
CONTACT: Investor Relations Contact
Manuel Fernandez Maza
Tel. +1 301 354 5432
Email: ir@telvent.com
Communications Contact
Sandi Scott
Tel. 952-851-7216
Email: sscott@tunheim.com
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