The American Stock Exchange (AMEX) says it intends to file
an application with the Securities and Exchange Commission
(SEC) to strike alarm monitoring services provider Security
Associates Int’l Inc.‘s (SAI) common stock from listing and
registration on AMEX.
AMEX indicats that SAI has fallen below the AMEX listing guidelines as a result of the net losses sustained by the company in its three most recent fiscal years and the continued low trading price of the company’s common stock. SAI says it does not intend to appeal the delisting of its securities.
The public trading market for the company’s common stock may be adversely affected when it is delisted from AMEX. Following a delisting, the company may seek to have its common stock quoted on the OTC Bulletin Board. Historically, the OTC Bulletin Board has been a less developed market providing lower trading volume than the national securities exchanges and NASDAQ. However, there is no guarantee that the company will succeed in having its common stock quoted on the OTC Bulletin Board, the company’s press release states.
SAI provides security alarm monitoring services to residences and businesses, including more than 300,000 subscribers, through the largest independent network of independent security alarm installing and servicing dealers in the country.
