Halleluya - we're finally getting off the dreaded OTCBB!!
Imperial Sugar Company Stock to Be Listed on
NASDAQ National Market System
Monday April 14, 7:31 am ET
SUGAR LAND, Texas--(BUSINESS WIRE)--April 14, 2003--Imperial Sugar Company
(OTCBB:IPSU - News) announced today that NASDAQ has approved the company's
common stock listing on the NASDAQ National Market System (NMS) under the symbol
IPSU. The company's common stock currently trades on the OTC Bulletin Board.
NASDAQ also approved the company's warrants to purchase common stock for listing
on the NASDAQ National Market System under the symbol IPSUW. The company
expects its common stock and warrants to begin trading on the NASDAQ National
Market on April 16, 2003.
"Our management team is very focused on enhancing value for our shareholders," said
Robert A. Peiser, president and CEO of Imperial Sugar. "We had major
accomplishments which provided the company with greater financial stability and
liquidity. The NASDAQ listing is the next logical step in strengthening our position within
the food and beverage industry and demonstrates our commitment and strength not
only to our shareholders but also to our customers, vendors and employees."
During 2002, the company successfully restructured its balance sheet by selling a
number of business units and non-core assets as well as refinancing its bank credit
facilities. It also has announced certain cost improvement initiatives, including the
reduction of certain administrative expenses and the transfer of refining and packaging
activities from Sugar Land, Texas, to its refinery in Gramercy, La. With these
accomplishments, the company is focused on creating shareholder value through
improved sales and marketing concepts and closer relationships with its grower
suppliers. |
