Shares of Galaxy Foods to Trade On Amex.ORLANDO, Fla.--(BUSINESS WIRE)--Oct. 4, 1999-- Galaxy Foods Company (Nasdaq:GALX), the leading producer of nutraceutical soy-based dairy and dairy-related alternatives, announced today that as of October 6, 1999, shares of its common stock will begin trading on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. ("Amex") under the symbol "GXY GXY Galaxy (astronomy) ". The Company's common stock is currently traded as "GALX" 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. . In a press release dated August 5, 1999, Galaxy announced the filing of its initial application for listing on the Amex. The American Stock Exchange is the nation's second largest floor-based exchange and has a significant presence in listed equities, index shares and equity derivative In finance, an equity derivative is a class of financial instruments whose value is at least partly derived from one or more underlying equity securities. Market participants trade equity derivatives in order to transfer or transform certain risks associated with the securities. It trades options on 30 broad-based and sector indexes and 1,060 domestic and foreign stocks, as well as Long-term Equity AnticiPation Securities (LEAPS) on 1,050 stocks. Amex is a leader in listing warrants on foreign currencies and indexes, hybrid instruments and other structured products. John N. Tognino, Executive Vice President of Global Sales and Member Affairs of The Nasdaq-Amex Market Group, stated, "Our strategy is to provide companies with a choice of market structure based on an analysis of their unique trading characteristics and their overall business strategy. Nasdaq-Amex is in the unique position of being able to offer both a screen-based and floor-based trading structure under one corporate roof, and this move by Galaxy Foods Company is an example of that synergy". Angelo S. Morini, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Galaxy Foods Company, stated "We are excited about our change of market structure with the Amex while still retaining the many services and benefits of being part of the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). family. We look forward to developing a valuable one-on-one relationship with our Amex specialist, and we will continue to benefit from the unparalleled technological innovation and global visibility offered by The Nasdaq-Amex Market Group". Galaxy Foods Company is the leading producer of health-promoting dairy and dairy-related alternatives for the retail, foodservice and industrial markets. These plant-based products, which are low or no fat (no saturated fat saturated fat, any solid fat that is an ester of glycerol and a saturated fatty acid. The molecules of a saturated fat have only single bonds between carbon atoms; if double bonds are present in the fatty acid portion of the molecule, the fat is said to be ), have no cholesterol and no lactose and contain more vitamins and minerals than conventional dairy products, are part of the nutraceutical or functional food category, the fastest growing segment of the retail food market. The Company also markets conventional dairy products to the three channels of distribution listed previously. Galaxy brand names include Veggie Slices, Veggie Milk, formagg, Soyco, Soymage, Wholesome Valley, The Ultimate Smoothie smooth·ie also smooth·y n. pl. smooth·ies Slang 1. A person regarded as being assured and artfully ingratiating in manner. 2. A smooth-tongued person. and Lite Bakery. For more information, contact Tracy Rushwin at (407) 855-5500, extension 105. You may also obtain more information from Galaxy's web site at www.galaxyfoods.com. |
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