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Cable Operators

Israeli Op Delists from NASDAQ

2/24/2005 9:21 AM Eastern

Matav-Cable Systems Media Ltd. said Thursday that it will voluntarily delist from the NASDAQ National Market and terminate its American Depositary Receipt program.

Among reasons cited by the Netanya, Israel-based MSO: the low trade volume of its shares on the NASDAQ exchange; the fact that the vast majority of shareholders have chosen to trade its shares on the Tel Aviv Stock Exchange; and the high costs associated with being a reporting company under U.S. securities laws.

Matav said it will file a Form 15 with the Securities and Exchange Commission to terminate the registration of its ADRs and ordinary shares, thereby suspending its obligation to file annual and other reports with the SEC.

 

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