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Protective body armor maker DHB Inds gets notice from AMEX
01 Jul '06
3 min read
The Company requested that the staff of the Amex grant an extension until June 21, 2006 for the Company to file an updated plan of compliance with the Amex and to provide the Amex with the requested supplementary information. The staff of the Amex granted the Company's extension request.
On June 21, 2006, the Company submitted its updated plan of compliance and also provided the Amex with the supplementary information that it requested. After review of the updated plan, the staff of the Amex has determined that the amended plan does not make a reasonable demonstration of the Company's ability to regain compliance by August 15, 2006, and as a result, the staff of the Amex feels that it is appropriate to initiate immediate delisting procedures at this time.
The Company does not intend to appeal the staff's determination and anticipates that the delisting will be effective on or after July 5, 2006. The Company intends to work with AlixPartners to complete its financial statements and seek relisting on the Amex or another exchange when that process is complete. The Company is unable to predict if and when trading of the Company's securities might resume and on what market or markets at this time.
DHB Industries Inc's Armor Group is in the protective body armor industry. Its highly recognized subsidiaries, Point Blank Body Armor Inc and Protective Apparel Corporation of America (PACA) are focused on the design, manufacture, and distribution of bullet resistant and protective body armor for military, law enforcement, and corrections in the U.S. and worldwide. DHB Sports Group produces and markets a comprehensive line of athletic supports and braces which are merchandised through national superstore chains as well as through private label distributors.
On June 21, 2006, the Company submitted its updated plan of compliance and also provided the Amex with the supplementary information that it requested. After review of the updated plan, the staff of the Amex has determined that the amended plan does not make a reasonable demonstration of the Company's ability to regain compliance by August 15, 2006, and as a result, the staff of the Amex feels that it is appropriate to initiate immediate delisting procedures at this time.
The Company does not intend to appeal the staff's determination and anticipates that the delisting will be effective on or after July 5, 2006. The Company intends to work with AlixPartners to complete its financial statements and seek relisting on the Amex or another exchange when that process is complete. The Company is unable to predict if and when trading of the Company's securities might resume and on what market or markets at this time.
DHB Industries Inc's Armor Group is in the protective body armor industry. Its highly recognized subsidiaries, Point Blank Body Armor Inc and Protective Apparel Corporation of America (PACA) are focused on the design, manufacture, and distribution of bullet resistant and protective body armor for military, law enforcement, and corrections in the U.S. and worldwide. DHB Sports Group produces and markets a comprehensive line of athletic supports and braces which are merchandised through national superstore chains as well as through private label distributors.
DHB Industries Inc
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