Hallmark Financial Services To Voluntarily Delist From Nasdaq

(RTTNews) - Hallmark Financial Services (HALL) on Tuesday announced it plans to voluntarily delist its common stock from the Nasdaq Global Market. The stock's trading will be suspended at the opening of business on January 5.

Hallmark Financial said its decision to voluntarily delist its shares was based on the company's failure to meet two of the requirements for continued listing on the exchange and the lack of a viable plan to remediate both such deficiencies within their established grace periods.

Hallmark Financial expects its shares will be quoted on the Pink market, or another market operated by OTC Markets Group.

The company said it plans to continue reporting under the Securities Exchange Act of 1934, and added the delisting is not expected to impact business operations.