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| Arcadis to delist from NASDAQ Arcadis, a Netherlands-based consulting and engineering company, announced that it intends to voluntarily delist its common stock from the NASDAQ Global Select Market. Arcadis intends to file a Form 25 with the Securities and Exchange Commission (SEC) on or about May 28, 2007 and expects that its listing on NASDAQ will automatically be terminated on or about June 7, 2007. The company will continue to be listed on the Euronext stock exchange. The decision to delist is based on the low trading volume of Arcadis shares on NASDAQ and the fact that the costs associated with a NASDAQ listing and the reporting requirements of the SEC outweigh the benefits of such a listing. Arcadis also plans to terminate the registration of its common shares with the SEC 12 months after the delisting becomes effective. The company estimates the annual savings associated with delisting and deregistration to be approximately € 2 million from 2008 onward. On May 15, 2007, Arcadis received the attestation report of its independent registered public accounting firm, confirming that Arcadis, as of December 31, 2006, is compliant with the requirements of section 404 of the Sarbanes Oxley Act. This demonstrates that Arcadis has internal controls in place throughout its global organization that meet the world's highest standards. Arcadis got NASDAQ listing in 1993 through the merger with Geraghty & Miller, even before it became listed at Euronext in Amsterdam. write your comments about the article :: © 2007 Construction News :: home page |