Schmitt: Plunges on voluntary delisting plan

Schmitt Industries

04/02/2020 14:39

** Measurement products maker's shares  SMIT.O  drop 14.8%
to $3.00
    ** SMIT intends to delist and deregister its common stock
from Nasdaq  urn:newsml:reuters.com:*:nGNX7BLkZz
    ** Co will list shares on OTC Pink market; Says moving to
OTC helps co save costs and focus on expanding its business
    ** SMIT currently expects to file a Form 25 related to
delisting on or around Feb. 14; stock will be delisted ten days
after filing
    ** SMIT rose 37.7% last year

 (Reporting by Shariq Khan in Bengaluru)
 ((Shariq.Khan@thomsonreuters.com; Twitter: @s_qakhan))