Collins to Delist
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Collins Industries, Inc. of Kansas has announced that following a 1-for-300 reverse stock split followed immediately by a 300-for-1 forward stock split, SEC filings will stop. A significant reduction in Sarbanes-Oxley section 404 costs. The final result will be a reduction in the number of shareholders to less than 300. Under 300 means that SEC periodic filings are not required. The company's shares will continue to be quoted on the "pink sheets". In the Reverse/Forward Stock Split, shareholders with less than 300 shares of the Company's common stock held of record in their name immediately before the transaction will receive a cash payment equal to $7.70 per pre-split share. Shareholders holding 300 or more shares of the Company's common stock immediately before the transaction will not receive cash payment and will continue to hold the same number of shares after completion of the transaction. Collins Industries, Inc. is a leading manufacturer of ambulances (including medical attack vehicles, rescue vehicles and fire emergency vehicles), North America's largest producer of Type "A" small school buses, the nation's second largest manufacturer of terminal trucks and a leader in the road construction and industrial sweeper markets.
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