Emmis Communications Announces Plan To Delist From Nasdaq, Deregister Its Class A Common Stock
EMMIS COMMUNS CORP A (EMMS)
US:NASDAQ Investor Relations:
emmis.com/investors
Company Research
Source: PR Newswire
?INDIANAPOLIS, April 24, 2020 /PRNewswire/ -- Emmis Communications Corporation (Nasdaq: EMMS) (the "Company") today announced that it will voluntarily delist its Class A Common Stock from the Nasdaq Stock Market, and based upon ownership of its shares by fewer than 300 holders of record, deregister its Class A Common Stock under the Securities Exchange Act of 1934 and suspend its public reporting obligations.?Jeffrey H. Smulyan, the Company's CEO stated, "We've undertaken a detailed and thoughtful review of the costs and benefits associated with being a Nasdaq-listed and SEC reporting company. After careful consideration, our Board of Directors unanimously decided to voluntarily delist from Nasdaq and deregister with the SEC as we believe the expected savings of more than $1 Million per year outweigh the advantages of continuing as a Nasdaq-listed and SEC reporting company."?The Company intends to file a Form 25 with the Securities and Exchange Commission (the "SEC") on or about May
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