Printer Friendly

ROYAL APPLIANCE APPLIES TO BE TRADED ON NEW YORK STOCK EXCHANGE

ROYAL APPLIANCE APPLIES TO BE TRADED ON NEW YORK STOCK EXCHANGE
 CLEVELAND, June 12 /PRNewswire/ -- Royal Appliance Mfg. Co. (NASDAQ: RVAC) announced today that it had filed an application so that its shares will be traded on the New York Stock Exchange (NYSE), instead of the NASDAQ "Over-The-Counter" market as is currently the case.
 "Trading on the New York Stock Exchange 'Big Board' is more prestigious," said John Balch, Chairman, President and Chief Executive Officer. "But more importantly, it should reduce the transaction cost of buying or selling Royal shares. That's good for our current and future shareholders."
 The move from NASDAQ to NYSE trading will not change the price of Royal shares and will not require shareholders to change brokerage accounts or to do any paperwork whatsoever, Balch explained.
 "Our previously announced stock split is also intended to make our stock more attractive to the individual investor," said Balch. (On May 4, 1992, Royal announced a two-for-one stock split, which is payable on July 17, 1992, to shareholders of record on May 15.)
 "I want every person who owns a Royal or Dirt Devil(R) vacuum cleaner to be able to own a part of our company and share in its growth," said Balch.
 Royal Appliance, which became publicly held in August 1991, manufactures the popular line of Dirt Devil vacuum cleaners. The company grew from $6 million in sales in 1982 to more than $273 million in 1991.
 -0- 6/12/92
 /CONTACT: John Balch, chairman, president & CEO of Royal Appliance, 216-449-6150, or Edward Stevens of Dix & Eaton, 216-241-0405, for Royal Appliance/
 (RVAC) CO: Royal Appliance Mfg. Co. ST: Ohio IN: MAC SU:


CG -- CL013 -- 9866 06/12/92 17:17 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 12, 1992
Words:284
Previous Article:FEDERAL APPEALS COURT ISSUES JUDGMENT AGAINST TRANSOHIO SAVINGS BANK
Next Article:STANDARD & POOR'S STOCK PRICE INDEX -- CLOSING, FRIDAY, JUNE 12
Topics:


Related Articles
NEW YORK STOCK EXCHANGE CLOSING, THURSDAY, MAY 14 /PRN/
NEW YORK STOCK EXCHANGE CLOSING, MONDAY, MAY 18 /PRN/
NEW YORK STOCK EXCHANGE CLOSING, TUESDAY, MAY 19 /PRN/
NEW YORK STOCK EXCHANGE CLOSING, TUESDAY, JULY 14 /PRN/
AMEX TO OPEN OPTIONS TRADING ON ROYAL APPLIANCE MANUFACTURING COMPANY
NEW YORK STOCK EXCHANGE CLOSING, FRIDAY, JULY 24
APPLIED POWER TO LIST ITS STOCK ON NEW YORK STOCK EXCHANGE
NEW YORK STOCK EXCHANGE CLOSING, TUESDAY, SEPT. 15 /PRN/
NEW YORK STOCK EXCHANGE CLOSING, WEDNESDAY, SEPT. 16 /PRN/
NEW YORK STOCK EXCHANGE CLOSING, THURSDAY, SEPT. 17 /PRN/

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters