Mesquite-based Abatix to voluntarily terminate SEC reporting and delist from NASDAQ

by PegNews wire

MESQUITE — Abatix Corp. announced today that it intends to file with The NASDAQ Stock Market and the Securities and Exchange Commission to voluntarily delist the Abatix common stock from the NASDAQ Capital Market and to deregister the stock. The company also intends to file with the SEC to voluntarily suspend reporting obligations. The company intends to file these applications on September 5, 2007. Immediately upon the filing, the company will no longer be obligated to file certain reports with the SEC.

Under the SEC's rule, a company with fewer than 300 stockholders of record may voluntarily terminate the registration of its securities by filing a Form 15 pursuant to which it certifies that the number of record holders of the class of securities registers is less than 300. Abatix currently has fewer than 100 stockholders of record.

The company does not believe that delisting and deregistering will materially impact its current operations, current relationships with employees, customers or suppliers or its existing financing arrangements.

Mr. Terry Shaver, CEO, stated, "The company formed a special committee comprised solely of independent directors. After a substantive review of the available options by the special committee, they concluded that voluntary deregistration and voluntary delisting were in the best, long-term interest of the company. The special committee presented their findings to the company's board of directors who unanimously agreed with their conclusion."

Source: Abatix