Bristol-Myers Squibb Announces Intention to Voluntarily Delist Preferred
NEW YORK -- May 16, 2013
Bristol-Myers Squibb Company (NYSE: BMY) today announced that it has notified
the New York Stock Exchange (“NYSE”) of its intention to voluntarily delist
its $2 Convertible Preferred Stock (the “Preferred Stock”) from the NYSE.
The company’s decision to delist the Preferred Stock was driven by the low
number of shares outstanding, low daily trading volume, listing fees and
compliance administration costs. Currently, 5,064 shares of Preferred Stock
remain outstanding, which is below the minimum number of shares specified by
Section 802.01 of the NYSE Listed Company Manual.
The company expects to file an application on Form 25 to notify the Securities
and Exchange Commission of its withdrawal of the Preferred Stock from listing
on the NYSE on or about May 28, 2013. The company expects the delisting of its
Preferred Stock to become effective on or about June 10, 2013. The company
does not intend to re-list the Preferred Stock on another securities exchange,
but expects that the Preferred Stock will be quoted on one or more
Delisting the Preferred Stock from the NYSE will not affect its terms,
including dividend payments. The company intends to maintain the Preferred
Stock’s registration under the Securities Exchange Act of 1934, as amended.
The Company will continue to maintain the listing of its common stock on the
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to
discover, develop and deliver innovative medicines. For more information,
please visit www.bms.com or follow us on Twitter at
Bristol-Myers Squibb Forward Looking Statement
This press release contains "forward-looking statements" as that term is
defined in the Private Securities Litigation Reform Act of 1995 regarding the
expected delisting of the company’s Preferred Stock. Such forward-looking
statements are based on current expectations and involve inherent risks and
uncertainties, including factors that could delay, divert or change any of
them, and could cause actual outcomes and results to differ materially from
current expectations. No forward-looking statement can be guaranteed. Among
other risks, there can be no guarantee that steps taken by third parties to
make the Preferred Stock eligible for trading on one or more over-the-counter
markets will be successful, or that the expected delisting of the Preferred
Stock will occur in the time periods described in this press release.
Forward-looking statements in this press release should be evaluated together
with the many uncertainties that affect Bristol-Myers Squibb's business,
particularly those identified in the cautionary factors discussion in
Bristol-Myers Squibb's Annual Report on Form 10-K for the year ended December
31, 2012, in our Quarterly Reports on Form 10-Q and our Current Reports on
Form 8-K. Bristol-Myers Squibb undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information, future
events or otherwise.
Jennifer Fron Mauer, 609-252-6579
John Elicker, 609-252-4611
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