American Homestar Corporation Announces NASDAQ/NMS Delisting of Its Common Stock, Effective February 23, 2001.Business Editors HOUSTON--(BUSINESS WIRE)--Feb. 20, 2001 American Homestar Corporation (Nasdaq/NMS:HSTRQ) today announced that it has received official notice from Nasdaq that continued listing of the Company's common stock on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. is no longer warranted under the public interest provisions of Rules 4330(a)(3) and 4450(f). The delisting Delisting When the stock of a company is removed from a stock exchange. Notes: Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. will be effective at the opening of business on February 23, 2001. The Company believes this action is the direct result of its Chapter 11 bankruptcy filing on January 11, 2001. Trading in the Company's common stock was halted after the Chapter 11 filing and has not been reactivated. While the Company could request an oral hearing on this proposed delisting, it has declined to do so. The Company's common stock does not currently qualify for automatic listing on the over-the-counter (bulletin board) market, also because of the Chapter 11 filing. Until such time that a plan of reorganization has been approved by the Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. , there will be no public market for the Company's common stock. American Homestar Corporation is a vertically integrated manufacturer and retailer of manufactured housing Manufactured housing (also known as prefab housing) is a type of housing unit that is largely assembled in factories and then transported to sites of use. In the United States, the term "manufactured home" specifically refers to a house built entirely in a protected that also provides transportation, insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to its customers. This press release may contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. and information based on the beliefs of the Company's management as well as assumptions made by, and information currently available to, the Company's management. Words like "anticipate," "believe," "estimate," "should," "expect," and similar expressions used in this press release are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions, including the risk factors described in the Company's most recently filed registration statement and form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual events or results may vary from those described herein as anticipated, expected, believed or estimated. For more information about the Company, visit its website at www.americanhomestar.com |
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