Contact Information: Contact: John F. Ramírez Secretary 1-212-785-0400, ext. 208
Bexil Corporation Files to Delist and Deregister Its Common Stock
| Source: Bexil
NEW YORK, NY--(Marketwire - October 1, 2007) - Bexil Corporation (PINKSHEETS : BXLC ) (the
"Company") today announced that it has filed a Form 15 with the Securities
and Exchange Commission ("SEC") to terminate the registration of its common
stock and rights to purchase series A participating preferred stock under
the Securities Exchange Act of 1934, as amended ("Exchange Act"). On
September 21, 2007, the Company filed a Form 25 to withdraw the listing of
its common stock and rights to purchase series A participating preferred
stock from the American Stock Exchange ("AMEX") to become effective today.
The Company expects that the termination of registration under the Exchange
Act will become effective 90 days after filing the Form 15 with the SEC.
As a result of this filing, the Company's obligation to file with the SEC
certain reports and forms, including Forms 10-K, 10-Q, and 8-K, was
immediately suspended. The Company expects to realize significant savings
of both costs and time as a result of being relieved of its SEC periodic
reporting requirements. The Company currently intends to provide its
stockholders with quarterly earnings announcements and annual audited
financial statements.
Although the Company's common stock no longer will be quoted on the AMEX,
it is expected that the common stock will be quoted over-the-counter in the
Pink Sheets under symbol BXLC. Pink Sheets LLC is an electronic network
through which participating broker-dealers can make markets and enter
orders to buy and sell shares of issuers. It is a centralized quotation
service that collects and publishes market maker quotes in real time
primarily through its website, www.pinksheets.com, which provides stock and
bond price quotes, financial news, and information about securities traded.
Bexil is a holding company. More information about Bexil may be found at
its web site at www.bexil.com.
This release contains certain "forward looking statements" made pursuant to
the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. These statements involve known and unknown risks,
uncertainties and other factors, many of which are beyond the control of
the Company, which may cause the Company's actual results to be materially
different from those expressed or implied by such statements. Such risks,
uncertainties and other factors include those described in the Company's
filings with the SEC. The forward looking statements made herein are only
made as of the date of this release, and the Company undertakes no
obligation to publicly update such forward looking statements to reflect
subsequent events or circumstances.