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Chromcraft to delist from the NYSE

Tuesday 9 April 2013

Chromcraft Revington, Inc. has announced that, on April 5, 2013, its board of directors concluded that voluntarily delisting the company's common stock from the NYSE MKT and voluntarily deregistering from the reporting requirements of the Securities Exchange Act of 1934, as amended, are in the best interests of the company. The company is eligible to deregister its stock because it has fewer than 300 stockholders of record.
Accordingly, the company intends to file on April 18, 2013 a Form 25 with the NYSE MKT and the Securities and Exchange Commission to voluntarily delist its common stock from the NYSE MKT and to deregister the company's common stock from Section 12(b) of the Exchange Act. The company also intends to file on April 29, 2013 a Form 15 with the SEC to suspend the company's reporting obligations under Section 15(d) of the Exchange Act. Immediately upon the filing of Form 15, the company will no longer be obligated to file certain Exchange Act reports with the SEC. Following delisting and deregistering, the company presently intends to provide quarterly and annual information regarding its performance through postings to its website and press releases.
It is expected that delisting will take effect on April 29, 2013, and at that time the company's shares will no longer be traded on the NYSE MKT.
Although the company has not been notified by NYSE MKT, the company believes that it may no longer be in compliance with certain NYSE MKT minimum continued listing standards.
The company's board of directors determined, after careful consideration, that voluntarily delisting and deregistering is in the overall best interests of the company. The following factors were considered, in addition to others, by the board of directors in taking this action: the cost savings that may be realized by the company as a result of the elimination of its obligation to file reports with the SEC; avoidance of costs which are required in order to comply with the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated by the SEC thereunder; and the benefit of reallocating personnel to devote greater attention to the company's business strategies.
Ronald H. Butler, the company's Chairman and Chief Executive Officer, commented, "These actions are designed to reduce our operating costs. The consequences of remaining an SEC-reporting company, which includes significant costs and management time associated with regulatory compliance, outweighed the current benefits of being a NYSE MKT listed company."

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