ALEXANDRIA, Va., Sept. 29 /PRNewswire-FirstCall/ -- Halifax Corporation of Virginia (NYSE Amex: HX) (AMEX), today announced that it has given formal notice to NYSE AMEX ("AMEX") of the Company's intention to delist from AMEX and deregister its common stock under the Securities Exchange Act of 1934. Following delisting, the Company expects that its common stock will be quoted on the Pink Sheets and intends to continue to make financial information publicly available on its website. Halifax currently anticipates that it will file with the SEC and AMEX a Form 25 relating to the delisting of its common stock on or about October 9, 2009, with the delisting of its common stock taking effect no earlier than ten days thereafter. As a result, Halifax expects that the last day of trading of its common stock on NYSE AMEX will be on or about October 20, 2009. Following the delisting, Halifax anticipates that its common stock will be quoted on the Pink Sheets, a centralized electronic quotation service for over-the-counter securities, so long as market makers demonstrate an interest in trading in the Company's stock. However, the Company can give no assurance that trading in its stock will continue on the Pink Sheets or on any other securities exchange or quotation medium or that its common stock will be actively traded. Halifax is committed to providing as much transparency as is beneficial and warranted under those conditions. The Company expects that it will also file on or about October 20, 2009 a Form 15 with the SEC, which will result in the voluntary deregistration of the Company's common stock and immediate suspension of the Company's obligation to file periodic reports under the Securities Exchange Act of 1934, such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The deregistration itself is expected to be made effective by the SEC within 90 days of the filing of the Form 15. Chuck McNew, President and Executive Officer of Halifax, stated, "After careful analysis, a special committee of the Board of Directors, consisting solely of independent directors, concluded that the non-compliance with AMEX requirements, as well as, costs of public company compliance, coupled with the lost productivity resulting from management's compliance activities, significantly outweigh the benefits to the Company of remaining listed. The special committee recommended and the Board approved the delisting and deregistration." The Company received a deficiency letter from AMEX, dated March 17, 2008, advising it that, it does not meet certain of the AMEX's continued listing standards as set forth in Part 10 of the Amex Company Guide. Specifically, the Company was not in compliance with Section 1003(a)(ii) of the Company Guide because its stockholders' equity was less than $4.0 million and it had losses from continuing operations and/or a net loss in three out of four of its most recent fiscal years. The Company submitted a compliance plan on April 14, 2008 advising of the actions it planned to take to regain compliance with AMEX's continued listing standards. This plan was approved by AMEX on May 15, 2008, and AMEX granted the Company a conditional trading extension until September 14, 2009 to regain compliance with their continued listing standards. The Company was unable to regain compliance with these requirements. About Halifax Corporation of Virginia Founded in 1967, Halifax Corporation of Virginia is an enterprise logistics and maintenance solutions company providing a wide range of technology services to commercial and government customers throughout the United States. The Company's principal products are enterprise logistics solutions and high availability hardware maintenance services. More information on Halifax can be found at http://www.hxcorp.com/. Forward Looking Statements Certain statements made by the Company which are not historical facts may be considered forward-looking statements, including, without limitation, statements as to trends, management's beliefs, views, expectations and opinions, which are based upon a number of assumptions concerning future conditions that ultimately may prove to be inaccurate. Such forward-looking statements are subject to risks and uncertainties and may be affected by various factors described in the Risk Factors section in the Company's Annual Report on Form 10-K that may cause actual results to differ materially from those in the forward-looking statements. For further information that could affect the Company's financial statements, please refer to the Company's reports filed with the Securities and Exchange Commission. DATASOURCE: Halifax Corporation of Virginia CONTACT: Tammy Erwin, investor relations of Halifax Corporation of Virginia, +1-703-658-2422, Web Site: http://www.hxcorp.com/

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