Dectron Announces Voluntary Delisting from Nasdaq
01 March 2007 - 9:35AM
PR Newswire (US)
NASDAQ: DECT TSX: DTL MONTREAL, Feb. 28 /PRNewswire-FirstCall/ --
Dectron Internationale, Inc. (TSX: DTL / NASDAQ: DECT), a leader in
the heating, ventilation and air conditioning, indoor air security
and water generation markets, announced today that it will
voluntarily delist its Common Stock from the NASDAQ Stock Exchange
("NASDAQ") with trading in the stock to be terminated as of the
close of trading on March 14, 2007. The Company's decision to
delist from NASDAQ is based on the increasingly high cost of
maintaining dual listings on NASDAQ and the Toronto Stock Exchange
stock markets as well as the high costs related to NASDAQ and SEC
regulatory compliance. Dectron will maintain its listing on the
Toronto Stock Exchange and will continue to provide investors with
timely information regarding significant business and financial
developments. The company also announced that effective immediately
all future disclosure will be under Canadian GAAP and in shown in
Canadian dollars. Dectron Internationale's Chairman of the Board,
Mr. Ness Lakdawala said: "while a NASDAQ listing made a lot of
sense in 1998 when we took the company public, we now recognize
that circumstances have changed in the past few years, and today
the ongoing costs of SEC corporate compliance as well as
maintaining two listings in two countries far outweigh any
benefits." Mr. Lakdawala added, "It is important to emphasize that
we are still a public company through our listing on the Toronto
Stock Exchange (TSX - DTL) and existing stockholders will still be
able to buy or sell our shares through that exchange. Our decision
does not reflect any change in Dectron's commitment to its
operations and development in the US." This release contains
forward-looking statements, as described in the "safe harbor"
provision of the Private Securities Litigation Reform Act of 1995.
These statements involve a number of risks and uncertainties and
actual results could differ materially from those projected. These
forward-looking statements regarding future events and the future
results of Dectron Internationale Inc. are based on current
expectations, estimates, forecasts, and projections about the
markets in which we operate and the beliefs and assumptions of our
management. Words such as "expects," "anticipates," "targets,"
"goals," "projects," "intends," "plans," "believes," "seeks,"
"estimates," variations of such words, and similar expressions are
intended to identify such forward-looking statements. In addition,
any statements that refer to projections of our future financial
performance, our anticipated growth and trends, and other
characterizations of future events or circumstances, are
forward-looking statements. Readers are cautioned that these
forward-looking statements are only predictions and are subject to
risks, uncertainties, and assumptions. Therefore, actual results
may differ materially and adversely from those expressed in any
forward-looking statements. Readers are referred to the cautionary
statements and important factors discussed in Item 1A. Risk Factors
of our Annual Report on Form 10-K for the year ended January 31,
2006 for further information. We undertake no obligation to revise
or update publicly any forward-looking statements for any reason,
except as required by law. Dectron Internationale, Inc. is a global
provider of custom and semi-custom IAQ (indoor air quality) and
HVAC-R (heating, ventilation and air conditioning and
refrigeration) products and services to the building systems, food
processing, medical, petrochemical, and various industrial and
commercial markets. Established in Montreal, the Company has 400
employees in its manufacturing facilities. Its shares are listed on
the NASDAQ (DECT) and the TSX (DTL). DATASOURCE: DECTRON
INTERNATIONALE INC. CONTACT: please contact: Dectron Internationale
Inc.: Glenn La Rusic, Chief Financial Officer, (514) 336-3330, ,
http://www.dectron.com/; Renmark Financial Communications: Henri
Perron: ; Michael Shore: , (514) 939-3989, Fax: (514) 939-3717,
http://www.renmarkfinancial.com/
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