The Company is undertaking this process following the March 19, 2008 notice that shares of TRMM no longer met the minimum price requirement of the NASDAQ Global Market. TRM expects that the delisting of its shares will become effective on April 23, 2008.
"The terms of our recent transactions make it impossible for us to remain on the NASDAQ," said Richard Stern, TRM's President and CEO. "We believe it is more beneficial for us to solve our outstanding financial issues and complete the acquisition of Access to Money rather that focus on our eligibility to remain listed on the NASDAQ. We are a much stronger company today compared to previously and by completing these transactions, I believe we are taking the right steps to ensure the long-term sustainability, viability and success of the Company."
The Company expects the delisting to be effective on or about April 23, 2008. Thereafter, TRM's common stock will be eligible for quotation on the Pink Sheets LLC, an electronic quotation service through which participating broker-dealers can make markets and enter orders to buy and sell shares of companies. At least one registered broker-deal has indicated an intention to sponsor the Company's shares on the Pink Sheets and to act as a market maker following delisting. The Company was advised by the Financial Industry Regulatory Authority that the trading symbol for the Company's common stock will be made available on or about April 23, 2008, and the Company will issue another press release at such time to inform investors of the trading symbol. -- TRM Corporation
