Taitron announces voluntary Nasdaq delisting, CFO resignation

Taitron (TAIT) Components announces the company will voluntarily delist its common stock from The Nasdaq Stock Market and, based upon ownership of its shares by fewer than 300 holders of record, deregister its common stock under the Securities Exchange Act of 1934 and suspend its public reporting obligations. “Our Board of Directors concluded that the costs of maintaining the Nasdaq listing and remaining a public reporting company, including costs of compliance, the demands on management time and the company resources required to maintain its listed and registered status, outweigh the benefits to the company and its stockholders of continued Nasdaq listing and SEC reporting.” On November 10, David Vanderhorst resigned as CFO and Secretary of the company, effective immediately. Vanderhorst will remain an employee of the company, serving as the company’s Controller. The company’s President and CEO, Stewart Wang, has assumed the duties of principal financial officer and principal accounting officer of the company.