CPI Card Group Voluntarily De-Listing from Toronto Stock Exchange
August 13 2021 - 7:00AM
Business Wire
CPI Card Group Inc. (Nasdaq: PMTS; TSX: PMTS) (“CPI” or the
“Company”), a payment technology company and leading provider of
credit, debit and prepaid solutions, today announced that it has
provided written notice to the Toronto Stock Exchange (the “TSX”)
regarding the voluntary delisting of its common stock from the
TSX.
The Company believes that the trading volume of its stock on the
TSX no longer justifies the expense and administrative efforts
associated with maintaining this listing, especially given CPI’s
recent listing on The Nasdaq Global Market (“Nasdaq”). CPI’s
listing on Nasdaq provides its stockholders with good liquidity,
and the savings in exchange fees, legal fees and managerial time
and effort to maintain a dual listing can be redirected into
further advancing the business of the Company. CPI’s Canadian
stockholders may trade their existing shares through their brokers
on Nasdaq. CPI anticipates that its common stock will be delisted
from the TSX at the close of trading on or about August 27,
2021.
Pursuant to Section 720(d) of the TSX Company Manual,
stockholder approval is not required with regard to the voluntary
delisting as an alternative market for the shares will exist on
Nasdaq.
As most brokers in Canada, including discount and online
brokers, have the ability to buy and sell securities listed on
Nasdaq, CPI’s Nasdaq listing will continue to provide stockholders
with the same accessibility to trade the Company’s common stock.
Stockholders holding shares in Canadian brokerage accounts should
contact their brokers to confirm how to trade CPI’s shares on the
Nasdaq exchange.
About CPI Card Group Inc.
CPI Card Group® is a payment technology company and leading
provider of credit, debit and prepaid solutions delivered
physically, digitally and on-demand. CPI helps our customers foster
connections and build their brands through innovative and reliable
solutions, including financial payment cards, personalization and
Software-as-a-Service (SaaS) instant issuance. CPI has more than 20
years of experience in the payments market and is a trusted partner
to financial institutions and payments services providers. Serving
customers from locations throughout the United States, CPI has a
large network of high security facilities, each of which is
registered as PCI compliant by one or more of the payment brands:
Visa, Mastercard®, American Express® and Discover®. Learn more at
www.cpicardgroup.com.
Cautionary Note Regarding Forward Looking Statements
Certain statements and information in this press release may
contain or constitute “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended, Section 21E
of the Securities Exchange Act of 1934, as amended, and applicable
Canadian securities laws. The words “believe,” “estimate,”
“project,” “expect,” “anticipate,” “plan,” “intend,” “foresee,”
“should,” “would,” “could,” “continue,” “committed,” or other
similar expressions are intended to identify forward-looking
statements, which are not historical in nature. These
forward-looking statements include the planned voluntary delisting
of CPI’s common stock from the TSX, the accessibility of and
ability to trade the Company’s common stock on Nasdaq, and the
anticipated continued listing of the Company’s common stock on
Nasdaq. Such forward-looking statements, because they relate to
future events, are by their very nature subject to many important
risks and uncertainties that could cause actual results or other
events to differ materially from those contemplated. An investment
in the Company’s stock is also subject to risks and uncertainties.
These risks and uncertainties include, but are not limited to,
those described in Part I, Item 1A – Risk Factors in our Annual
Report on Form 10-K for the year ended December 31, 2020, Part II,
Item 1A – Risk Factors in our Quarterly Report on Form 10-Q for the
quarter ended June 30, 2021 and our other reports filed from time
to time with the Securities and Exchange Commission.
We caution and advise readers not to place undue reliance on
forward-looking statements, which speak only as of the date hereof.
We undertake no obligation to publicly update or revise any
forward-looking statements after the date they are made, whether as
a result of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210813005182/en/
CPI Card Group Inc. Investor Relations: (877) 369-9016
InvestorRelations@cpicardgroup.com Source: CPI Card Group Inc.
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