Atlas Financial Holdings Applies for Voluntary Delisting from the TSX Venture Exchange
CHICAGO--(BUSINESS WIRE)-- Atlas Financial Holdings, Inc. (NASDAQ: AFH; TSX.V: AFH) ("Atlas" or the "Company") today announced that it is applying for the voluntary delisting of its ordinary shares from the TSX Venture Exchange (TSXV). The decision to apply to delist has been made due to the limited trading volume of Atlas' shares on the TSXV over a sustained period of time and the low and declining level of ownership of Atlas shares (approximately 6% presently) on the Canadian register. As such, the regulatory and other costs of maintaining the TSXV listing are no longer justified. Atlas' ordinary shares continue to be listed and traded on the NASDAQ Capital Market.
Implications for holders on the Canadian register:
In order to trade their shares on the NASDAQ Capital Market, Canadian beneficial shareholders will need to have their holdings transferred to the U.S. share register. For beneficial shareholders who hold their shares through a broker or other intermediary which is a CDS participant, the CDS participant/broker must complete and submit the necessary documentation on the shareholder's behalf.
The primary business of Atlas is commercial automobile insurance in the United States, with a niche market orientation and focus on insurance for the "light" commercial automobile sector including taxi cabs, non-emergency paratransit, limousine/livery and business auto. The business of Atlas is carried on through its insurance subsidiaries American Country Insurance Company, American Service Insurance Company, Inc. and Gateway Insurance Company. Atlas' insurance subsidiaries have decades of experience with a commitment to always being an industry leader in these specialized areas of insurance.
For more information about Atlas, please visit www.atlas-fin.com.
Atlas' financial statements reflect consolidated results of Atlas' subsidiaries: American Insurance Acquisition Inc., American Country Insurance Company, American Service Insurance Company, Inc. and Gateway Insurance Company. Additional information about Atlas, including a copy of Atlas' 2012 Form 10-K financial statements and Management Discussion & Analysis and Atlas' first quarter 2013 Form 10-Q unaudited condensed consolidated financial statements and Management Discussion & Analysis, can be accessed on the Canadian Securities Administrators' website at www.sedar.com, via the U.S. Securities and Exchange Commission internet site at www.sec.gov or through Atlas' website at www.atlas-fin.com.
This release includes forward-looking statements regarding Atlas and its insurance subsidiaries and businesses. Such statements are based on the current expectations of the management of each entity. The words "anticipate", "expect", "believe", "may", "should", "estimate", "project", "outlook", "forecast" or similar words are used to identify such forward looking information. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Companies, including risks regarding the insurance industry, economic factors and the equity markets generally and the risk factors discussed in the "Risk Factors" section of the Company's 2012 Form 10-K. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Atlas and its subsidiaries undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Atlas Financial Holdings, Inc.
At the Company
Scott Wollney, CEO
The Equity Group Inc.
Adam Prior, Senior Vice President
Terry Downs, Associate
KEYWORDS: United States North America Illinois
The article Atlas Financial Holdings Applies for Voluntary Delisting from the TSX Venture Exchange originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.