News Releases

 
NYSE Moves to Remove Sparton Corporation from the List
NEW  YORK , April 9, 2009 – NYSE Regulation, Inc. (“NYSE Regulation”) announced today that it determined that the common stock of Sparton Corporation (the “Company”) – ticker symbol SPA – should be removed from the list.  The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation (the “Committee”). Should the Company request a review by the Committee, the date of such review will be announced. A suspension date will be announced at such time as i) the Company does not request a review by the Committee within 10 business days of this notice; ii) the subsequent review of the Committee determines that the Company should be suspended; iii) the Company is approved to commence trading in another securities marketplace or; iv) there are other material developments.

The Company had previously fallen below the New York Stock Exchange’s (“NYSE”) continued listing standards for average global market capitalization over a consecutive 30 trading day period of not less than $75 million and total stockholders’ equity of not less than $75 million.   The Company submitted a business plan to address non-compliance with the NYSE’s continued listing standards. However, after reviewing these materials, the NYSE decided to proceed with suspension of trading as described above.

Application to the Securities and Exchange Commission to delist the issue is pending the outcome of the appeal process. 

The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.

Media contact:

Dick Pacini
The Millerschin Group
Email:dpacini@millerschingroup.com
Office 248.276.1970
Cell 248.770.6446

 



See Section 802.00 of the NYSE Listed Company Manual for continued listing criteria and procedure for delisting

Contact: Scott Peterson
Phone: 212.656.4089
Email:  speterson@nyx.com