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The Company has determined to delist the common stock in order to minimize annual legal and accounting expense relating to public reporting obligations and related compliance with the provisions of Sarbanes-Oxley; to eliminate the annual expense of listing fees; in light of the minimal daily trading volume of the Common Stock; in recognition of the fact that listing the Common Stock does not provide a significant benefit to the vast majority of the Company's stockholders, on a cost effective basis; and in recognition of the possible future inability of the Company to continue to meet the requirements for continued listing.
The Company expects that it will also file with the Securities and Exchange Commission a notice on Form 15, which will suspend the Company's obligation to file periodic reports, such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, under the Act.
While the Company's common stock may remain eligible to be quoted on the over-the-counter bulletin board market or in the pink sheets, if market makers choose to make the necessary filings, the Company has not arranged for the listing of the common stock on any other exchange, and has not made any arrangements for the quotation of the common stock on any other quotation system or medium.
About Millennium Bankshares
Millennium Bankshares Corporation is a bank holding company headquartered in Reston, Virginia. It was incorporated in 1998 and began operations in April 1999. Millennium provides commercial and consumer banking services through Millennium Bank, National Association. Millennium Bank is a nationally chartered community bank with four banking offices in Northern Virginia (Reston, Herndon, Sterling and Warrenton). The bank provides a broad range of commercial and retail banking services designed to meet the needs of businesses and consumers in the communities it serves. The Company's internet address is www.millenniumbankshares.com.
SOURCE: Millennium Bankshares Corporation
Millennium Bankshares Corporation Richard I. Linhart, Chairman, President and CEO (703) 464-1966
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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