ATLANTA--(BUSINESS WIRE)--Dec. 19, 2008--Spectrum Brands, Inc. (the "Company") (NYSE: SPC) today announced that arrangements for the transition of trading of the Company's common stock from the New York Stock Exchange ("NYSE") to the OTC market have been completed. Trading on the NYSE and the Company's trading symbol "SPC" will be suspended as of the opening of the market on Monday, December 22, 2008. Effective at the opening of the market on Monday, December 22, 2008, the Company's common stock will be traded in the OTC market and quoted on the Pink Sheet Electronic Quotation Service under the symbol "SPCB."
The Company noted that the transition of the trading of its common stock to the OTC market is not expected to have a direct impact on the current operation of its businesses and is not expected to cause a default under any of its credit agreements. Additionally, the transition to the OTC market will have no direct effect on the shares themselves or the Company's registration with the Securities and Exchange Commission. This transition to the OTC will not effect the record status of holders of record of Spectrum Brands' common stock.
Certain matters discussed in this news release, with the exception of historical matters, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of risks and uncertainties that could cause results to differ materially from those anticipated as of the date of this release, including those set forth in Spectrum Brands' securities filings, including the most recently filed Annual Report on Form 10-K or Quarterly Report on Form 10-Q.
The Company also cautions the reader that undue reliance should not be placed on any forward-looking statements, which speak only as of the date of this release. Spectrum Brands undertakes no duty or responsibility to update any of these forward-looking statements to reflect events or circumstances after the date of this report or to reflect actual outcomes.
CONTACT: Investor Contact:
Spectrum Brands
Carey Phelps, 770-829-6208
DVP Investor Relations
or
Media Contact:
Sard Verbinnen & Co for Spectrum Brands
Kara Findlay, 212-687-8080
or
Matt Benson, 415-618-8750
Source: Spectrum Brands, Inc.