Britton & Koontz Capital Corp. (BKBK: Quote), the parent company of Britton & Koontz Bank N.A., said Friday it has today notified the NASDAQ Stock Market of its intent to delist its common stock from the NASDAQ Capital Market and to shortly file a related notification with the Securities and Exchange Commission.
The company anticipates that its common stock will trade on the over-the-counter markets following the completion of its delisting from the NASDAQ Capital Market.
Subsequent to the effective date of delisting, the company also intends to take the necessary action to deregister its common stock. The company is eligible to deregister because it has fewer than 1,200 holders of record of its common stock.
The Board determined that delisting and deregistration of the company's common stock is in the best interests of the company and its shareholders and is based on factors including the high costs in preparing and filing periodic reports with the SEC and its historically low trading volume.
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by RTT Staff Writer
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