Printer Friendly

Otelco Announces Plans to Move Listing to the NASDAQ Global Market.

ONEONTA, Ala. -- Otelco Inc. (AMEX:OTT)(TSX:OTT.un), the sole wireline telephone services provider in the Alabama, Maine and Missouri rural communities it serves, today announced its intention to transfer the listing of its Income Deposit Securities (IDS) from the American Stock Exchange (AMEX) to the NASDAQ Global Market. The Company anticipates that its shares will be listed for trading on NASDAQ on June 30, 2008. Until then, its shares will continue to be listed to trade on the AMEX. Its ticker symbol will remain "OTT."

"The movement of our listing to NASDAQ confirms a trend among our current and potential IDS owners," said Michael Weaver, President and CEO of Otelco. "Over the past year, more of our IDSs have traded on NASDAQ than any other exchange. In the last three months, nearly two-thirds of the daily volume in OTT utilized the NASDAQ to implement the transactions. Our security owners and their brokers recognize the benefits that the NASDAQ's multiple market maker structure offers on speed of execution and cost per trade.

"The AMEX has been a strong partner with Otelco since the Company went public in 2004," continued Weaver. "It played an important role in introducing the IDS structure to the market and supported our follow-on offering of 3,000,000 units in 2007. We want to thank them for their support, guidance and service over the past four years."

The listing change has no impact on the distribution of IDS interest and dividends. The Company's fourteenth distribution will occur on June 30, 2008, as previously announced.


Otelco Inc., headquartered in Oneonta, Alabama, provides wireline telephone services in Alabama, Maine and Missouri. The Company's services include local and long distance telephone, network access, transport, digital high-speed and dial-up Internet access, cable television and other telephone related services. With more than 69,000 voice and data access lines, which are collectively referred to as total access line equivalents, Otelco is among the top 40 largest local exchange carriers in the United States based on number of access lines. Otelco operates six incumbent telephone companies serving rural markets, or rural local exchange carriers, each of which can trace its history as a local telecommunications provider as far back as the early 1900s. It also provides competitive telephone services through several subsidiaries. For more information, visit the Company's web site at

COPYRIGHT 2008 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jun 17, 2008
Previous Article:Is speculation driving commodity prices? Interviews CME Group Executive Chairman Terry Duffy to get the answers.
Next Article:PharMerica To Present at Jefferies 2nd Annual Healthcare Conference.

Related Articles
Team, Inc. Announces Move to NASDAQ Global Select Market.
Sun American Bancorp Announces Move to Nasdaq Global Market.
China Architectural Engineering Announces Move to NASDAQ Stock Market.
NetSol technologies commences trading on DIFX.
QuadraMed Corporation Completes Move to NASDAQ Global Market.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters