SGI Securities to Cease NYSE Trading
01 Novembre 2005 - 10:09PM
PR Newswire (US)
MOUNTAIN VIEW, Calif., Nov. 1 /PRNewswire-FirstCall/ -- SGI
announced today that it has been advised by the New York Stock
Exchange (NYSE) that its common stock -- ticker symbol SGI -- and
its 6.5% Senior Secured Convertible Notes due June 1, 2009 --
ticker symbol SGI 09 -- will no longer be traded on the NYSE
beginning with the opening of business on Monday, November 7, 2005.
The Company expects its common stock will be quoted on the OTC
Bulletin Board. As previously reported, SGI received notice from
the NYSE on May 9, 2005 that SGI's common stock had fallen below
the NYSE's minimum share price standard for continued listing. The
NYSE's standard requires that a company's common stock trade at a
minimum average closing share price of $1.00 during a consecutive
30-day trading period. SGI's common stock has not returned to
compliance with this standard. On November 1, 2005, the NYSE
notified SGI of its decision to suspend trading and stated that an
application to the Securities and Exchange Commission to delist
these securities from the NYSE is pending the completion of
applicable procedures. This news release contains forward-looking
statements relating to future events that involve risks and
uncertainties. Future events could differ materially from the
expectations discussed or implied herein. Factors that might cause
such a difference include risks relating to SGI's ability to have
its securities quoted on the OTC Bulletin Board or any other
securities quotation service and other risks as detailed from time
to time in SGI's periodic reports that are filed with the
Securities and Exchange Commission, including SGI's annual report
on Form 10-K for the year ended June 24, 2005. SGI undertakes no
obligation to publicly update or revise any forward-looking
statements, whether changes occur as a result of new information,
future events or otherwise. SILICON GRAPHICS | The Source of
Innovation and Discovery(TM) SGI, also known as Silicon Graphics,
Inc. (NYSE:SGI), is a leader in high-performance computing,
visualization and storage. SGI's vision is to provide technology
that enables the most significant scientific and creative
breakthroughs of the 21st century. Whether it's sharing images to
aid in brain surgery, finding oil more efficiently, studying global
climate, providing technologies for homeland security and defense
or enabling the transition from analog to digital broadcasting, SGI
is dedicated to addressing the next class of challenges for
scientific, engineering and creative users. With offices worldwide,
the company is headquartered in Mountain View, Calif., and can be
found on the Web at http://www.sgi.com/. NOTE: Silicon Graphics,
SGI, the SGI cube and the SGI logo are registered trademarks and
The Source of Innovation and Discovery is a trademark of Silicon
Graphics, Inc., in the United States and/or other countries
worldwide. All other trademarks mentioned herein are the property
of their respective owners. MEDIA CONTACT Caroline Japic
650.933.7210 INVESTOR CONTACT Beth Howe 650.933.8279 SGI PR HOTLINE
650.933.7777 SGI PR FACSIMILE 650.933.0283 DATASOURCE: SGI CONTACT:
media, Caroline Japic, +1-650-933-7210, or , or investors, Beth
Howe, +1-650-933-8279, or , both of SGI; or SGI PR Hotline,
+1-650-933-7777, or SGI PR Facsimile, +1-650-933-0283 Web site:
http://www.sgi.com/
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