Benzinga | Aug 13, 2021 08:05AM EDT

CPI Card Group Voluntarily De-Listing from Toronto Stock Exchange

CPI Card Group Inc. (NASDAQ:PMTS, TSX:PMTS) ("CPI" or the "Company"), a payment technology company and leading provider of credit, debit and prepaid solutions, today announced that it has provided written notice to the Toronto Stock Exchange (the "TSX") regarding the voluntary delisting of its common stock from the TSX.

The Company believes that the trading volume of its stock on the TSX no longer justifies the expense and administrative efforts associated with maintaining this listing, especially given CPI's recent listing on The Nasdaq Global Market ("Nasdaq"). CPI's listing on Nasdaq provides its stockholders with good liquidity, and the savings in exchange fees, legal fees and managerial time and effort to maintain a dual listing can be redirected into further advancing the business of the Company. CPI's Canadian stockholders may trade their existing shares through their brokers on Nasdaq. CPI anticipates that its common stock will be delisted from the TSX at the close of trading on or about August 27, 2021.

Pursuant to Section 720(d) of the TSX Company Manual, stockholder approval is not required with regard to the voluntary delisting as an alternative market for the shares will exist on Nasdaq.

As most brokers in Canada, including discount and online brokers, have the ability to buy and sell securities listed on Nasdaq, CPI's Nasdaq listing will continue to provide stockholders with the same accessibility to trade the Company's common stock. Stockholders holding shares in Canadian brokerage accounts should contact their brokers to confirm how to trade CPI's shares on the Nasdaq exchange.