MONTREAL - Dectron Internationale Inc. voluntarily delisted 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. The company cited the increasingly high cost of maintaining dual listings on NASDAQ and the Toronto Stock Exchange (TSX) stock markets as well as the high costs related to NASDAQ and U.S. Securities and Exchange Commission (SEC) regulatory compliance as reasons for its decision.
Dectron will maintain its listing on the TSX 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 generally accepted accounting principles (GAAP) and shown in Canadian dollars.
“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,” said Ness Lakdawala, Dectron Internationale’s chairman of the board.
“It is important to emphasize that we are still a public company through our listing on the TSX 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 United States.”
Dectron Voluntarily Leaves NASDAQ
March 12, 2007