Navigation Links
Grupo Casa Saba Reports - Grupo Casa Saba Announces its Intention to Delist From the New York Stock Exchange
Date:11/15/2012

MEXICO CITY, Nov. 15, 2012 /PRNewswire/ -- Grupo Casa Saba (NYSE: SAB)

Grupo Casa Saba, S.A.B. de C.V. ("GCS" or the "Company") (BMV: SAB* and NYSE: SAB) announces its intention to delist its American Depositary Shares ("ADSs") from the New York Stock Exchange ("NYSE").

GCS will concentrate all trading of its ordinary shares on the Bolsa Mexicana de Valores in Mexico ("BMV") and will be terminating its current ADS program. GCS has made a number of acquisitions over the last four fiscal years, and it has faced difficulties in integrating these businesses into its financial reporting structure, with the result that its auditors have issued qualified audit reports in three of the last four fiscal years. In determining to delist its ADSs, GCS has taken into account the low trading volume of its ADSs on the NYSE, and the associated costs of maintaining the listing and related obligations, including the increased complexities arising from its recent acquisitions.

GCS has not arranged for the listing or registration of its ADS or ordinary shares on another U.S. national securities exchange or for their quotation in a quotation medium in the United States.

GCS intends to file a Form 25 with the SEC to effect the delisting from the NYSE on or about November 26, 2012. The delisting will become effective 10 days later.

GCS will continue to be subject to reporting obligations under the U.S. Securities Exchange Act of 1934 (the "Exchange Act") until such time as it can terminate its registration under the Exchange Act. GCS will continue discussing with the SEC the resolution of the deficiencies in its financial reporting structure that have led to its auditors issuing qualified audit reports.

GCS's CEO Manuel Saba Ades commented: "GCS's delisting from The New York Stock Exchange means we can concentrate our attention and resources on a single listing on the Bolsa Mexicana de Valores. The delisting will have no impact on GCS's commitment to corporate governance and transparent disclosure."

About Grupo Casa Saba

Grupo Casa Saba, S.A.B. de C.V. ("GCS", "the Company" or "the Group") is one of the leading Mexican distributors of pharmaceutical products, beauty aids, personal care and consumer goods, general merchandise and publications. It also operates one of the most important pharmacy chains in Latin America. In 2011, the company had net sales of Ps. 46,568 million pesos. The Group is currently listed on both the Bolsa Mexicana de Valores (Mexican Stock Exchange) and the New York Stock Exchange (NYSE). Contacts: Grupo Casa Saba

IR Communications: Carlos Mora  

Jesus Martinez Rojas+52 (55) 5284-6623

+52 (55) 5644-1247 cmora@casasaba.com

jesus@irandpr.com
'/>"/>

SOURCE Grupo Casa Saba, S.A.B. de C.V.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Qmed, the Leading Global MedTech Industry Resource, Partners with Clarimed, to Provide the Medical Manufacturing and Healthcare Industry with FDA Reports on Adverse Events
2. Sigma-Aldrich (NASDAQ: SIAL) Reports Q1 2012 Diluted EPS of $0.96, With Diluted Adjusted EPS of $0.99. Sales Increase 5% for Q1 2012. Full Year 2012 Diluted Adjusted EPS Outlook of $3.90 to $4.05 Reaffirmed.
3. Kelyniam Global Inc. Reports Record Cranial Implant Revenues in the 1st Quarter of 2012
4. Varian Medical Systems Reports Results for Second Quarter of Fiscal Year 2012
5. Mylan Reports Q1 2012 Adjusted Diluted EPS of $0.52, an 18% Increase Over Prior Year Quarter
6. CryoLife Reports Record Quarterly Revenues in First Quarter of 2012
7. PAREXEL Reports Third Quarter Fiscal Year 2012 Financial Results
8. Luminex Corporation Reports First Quarter 2012 Results
9. Hospira Reports First-Quarter 2012 Results
10. Endo Reports First Quarter Financial Results And Announces Return To Steady Supply Of OPANA® ER And Voltaren® Gel
11. The Female Health Company Reports Second Quarter Operating Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/5/2016)... GAINESVILLE and BOCA RATON, ... The Florida Institute for the Commercialization of Public ... it has finalized a funding agreement SegAna, LLC, ... technology developed at University of Central Florida. The ... publicly-funded research, and bridges early funding gaps for ...
(Date:12/5/2016)... PUNE, India , December 5, 2016 ... Market by Treatment modalities (Chondrocyte Transplantation, Growth Factor Technology, Tissue Scaffolds, ... 2021" published by MarketsandMarkets, the market is projected to reach USD ... at a CAGR of 13.5% during the forecast period of 2016 ... ...
(Date:12/5/2016)... , Dec. 5, 2016   BIOTRONIK today ... study. The study evaluates the safety and feasibility of ... an office setting. BioMonitor 2 is an ... that is placed underneath a patient,s skin to help ... (fainting). Atrial fibrillation is a leading cause of stroke ...
Breaking Medicine Technology:
(Date:12/6/2016)... Maryland (PRWEB) , ... December 06, 2016 , ... ... announced the launch of a Kickstarter crowd funding campaign ( http://kck.st/2g3a1so ) for ... health active alerts and even taking an EKG from the watch while sharing ...
(Date:12/6/2016)... ... December 06, 2016 , ... Specialty ... newly updated International Audit Protocol Consortium (IAPC) EHS audit protocol for Great ... understand the scope of their EHS regulatory obligations and rapidly collect, share, archive, ...
(Date:12/5/2016)... ... ... What: Shriners Hospitals for Children, with the help of Dimension Data, will bring ... monitor and web-enabled camera. Santa visits with children through Dimension Data’s program to connect ... is where the video connection to the North Pole will stream. Much like children ...
(Date:12/5/2016)... ... December 05, 2016 , ... SyncDog, Inc., the leading ... magazine, a leading online tech news platform connecting technology innovators with news, experience, ... explores the state of enterprise mobility security today, and how the SyncDog SentinelSecure™ ...
(Date:12/5/2016)... ... December 05, 2016 , ... Progressive Laboratories™ is ... and glutathione to enhance production of nitric oxide (NO). , NitroGenesis Pro™ is ... produce NO twice as effectively and sustains NO blood levels twice as long ...
Breaking Medicine News(10 mins):