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Press Releases

September 12, 2007 - Bexil Corporation (AMEX: BXL) (the "Company") today announced that it has submitted written notice to the American Stock Exchange ("AMEX") of its intention to voluntarily delist its common stock from the AMEX. On or about September 21, 2007, the Company intends to file a Form 25 with the Securities and Exchange Commission ("SEC") to complete the voluntary delisting of its common stock from the AMEX, which will become effective 10 days after the filing date. Subsequently, the Company intends to file a Form 15 with the SEC to terminate the registration of its common stock under the Securities Exchange Act of 1934, as amended ("Exchange Act"). The Company anticipates the termination of registration will become effective 90 days following the filing of the Form 15 with the SEC. Upon filing of the Form 15, the Company's obligation to file certain reports and forms, including Forms 10-KSB, 10-QSB and 8-K, with the SEC will immediately be suspended.

Following the effectiveness of the Form 25 filing, the Company anticipates that its common stock will be quoted over-the-counter on the Pink Sheets LLC to the extent market makers commit to make a market in the Company's shares, although the Company can provide no assurance that trading in the stock will continue. Pink Sheets LLC is an electronic network through which participating broker-dealers can make markets, and enter orders to buy and sell shares of issuers.

The Board of Directors decided to take this action after considering the recommendation of a special committee of the independent members of the Board of Directors created to evaluate the issue. The committee concluded that the disadvantages of maintaining its listing on the AMEX and remaining a public company outweigh the benefits to the Company and its stockholders, and the Board concurred with the committee's recommendation. Among the factors considered were:

  • the ongoing burden of time, costs, and expenses, both direct and indirect, associated with being listed on the AMEX and the preparation and filing of the Company's periodic reports with the SEC;

  • the increase in such burden that the Company expects to incur as a public company in light of the Sarbanes-Oxley Act of 2002, particularly complying with Section 404 of such Act;

  • the limited trading volume and liquidity of the Company's stock on the AMEX; and

  • the lack of analyst coverage for the Company's stock.

Delisting and deregistration will allow management to focus its resources on implementing the Company's business plan and position the Company to enhance long term stockholder value. The Company currently intends to update its stockholders with financial information on a regular basis.

Commenting on these developments, Thomas B. Winmill, President of the Company, stated: "The burden in time and costs associated with public reporting obligations have a real affect on our results. In addition, due to our small market capitalization, we have not enjoyed many of the benefits traditionally associated with an AMEX listing. Our Board believes that stockholder value is best served through focusing on our business plan rather than maintaining our current public reporting status and AMEX listing. At this time, we expect to report progress through quarterly earnings announcements and other press releases. We currently intend to make available financial reports and other information to stockholders on our web site, www.bexil.com."

This release contains certain "forward looking statements" made pursuant to the “safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, which may cause the Company's actual results to be materially different from those expressed or implied by such statements. Such risks, uncertainties and other factors include those described in the Company's filings with the Securities and Exchange Commission. The forward looking statements made herein are only made as of the date of this release, and the Company undertakes no obligation to publicly update such forward looking statements to reflect subsequent events or circumstances.

 

Press Release Links  

August 14, 2007
Bexil Corporation Announces Second Quarter 2007 Financial Results
May 15, 2007
Bexil Corporation Announces First Quarter 2007 Financial Results
April 7, 2007
Bexil Corporation Announces Conference Call
April 4, 2007
Bexil Corporation Announces 2006 Financial Results
November 14, 2006
Bexil Corporation Announces Third Quarter 2006 Financial Results
November 3, 2006
Bexil Corporation Announces Conference Call
August 15, 2006
Bexil Corporation Announces Second Quarter 2006 Financial Results
July 12, 2006
Bexil Corporation Announces Change of Independent Registered Public Accounting Firm
May 17, 2006
Bexil Corporation Announces First Quarter 2006 Results
May 2, 2006
Bexil Corporation Announces Acquisition Parameters
April 28, 2006
Bexil Corporation Announces Consummation of York Sale and Payment Date of Special Dividend
April 27, 2006
Bexil Corporation Announces Stockholder Approval of York Sale
April 3, 2006
Bexil Corporation Announces 2005 Financial Results
December 27, 2005
Bexil Corporation Agrees to Sell Interest in York Insurance Services Group
November 14, 2005
Bexil Corporation Announces Third Quarter 2005 Financial Results
Novermber 10, 2005
Bexil Corporation Adopts Shareholder Rights Plan
November 9, 2005
Bexil Corporation Announces Conference Call  
August 15, 2005
Bexil Corporation Announces Second Quarter 2005 Financial Results 
July 11, 2005
Bexil Corporation Announces Financial Results for the First Quarter Ended March 31, 2005
June 20, 2005
Bexil Corporation Announces Financial Results for 2004 and New Filing Date for 10-QSB
April 18, 2005
Bexil Corporation Announces Change of Independent Registered Public Accounting Firms
September 13, 2004
Bexil Corporation Announces Conference Call
August 13, 2004
Bexil Corporation Announces Financial Results for the Second Quarter Ended June 30, 2004
May 17, 2004
Bexil Corporation Announces Financial Results for the First Quarter 2004
March 1, 2004
Bexil Corporation Omits First Quarter Dividend
January 6, 2004
Bexil Corporation Announces Deregistration



PO Box 4, Walpole, NH 03608 Tel: 1-212-785-0900 Fax: 1-917-746-4802
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