AMSTERDAM, Netherlands, April 1, 2008 (PRIME NEWSWIRE) -- Head N.V. (VSX:HEAD), a leading global manufacturer and marketer of sports equipment, announced today the delisting of its ordinary shares from the New York Stock Exchange (NYSE). Following the press release on the 10th March announcing its intention to delist, Head NV filed a Form 25 with the Securities and Exchange Commission (SEC) on the 21st March 2008 and the delisting became effective on the 31st March 2008.
Head NV has discontinued the movement of ordinary shares to its New York register (New York Shares) and is facilitating the exchange of such New York Shares into ordinary shares listed on the Vienna Stock Exchange (Austrian Shares).
For a period of 90 calendar days which began on the 14th March, 2008 Head NV will cover the fee payable to The Bank of New York by holders of New York Shares upon surrender of New York Shares for exchange into Austrian Shares. Moreover, Head NV has instructed The Bank of New York as transfer agent under the New York Share Program to close the New York Share register to further re-registrations of Austrian Shares or other ordinary shares for exchange into New York Shares. However, The Bank of New York will continue to act as transfer and paying agent for existing New York Shares. In addition, The Bank of New York will accept the surrender of New York Shares for exchange into Austrian Shares. Any holders of New York Shares who wish to surrender and exchange their New York Shares into Austrian Shares after the expiry of the 90-day period mentioned above will be responsible for the payment of the relevant fee charged by The Bank of New York upon such exchange.
Head NV's ordinary shares will continue to be listed and trade on the Vienna Stock Exchange. Head NV has not arranged for the listing of its ordinary shares on another national securities exchange or for their quotation in a quotation system in the U.S.
The delisting will not affect Head NV's business strategy in the United States nor its commitment to high standards of corporate governance and financial reporting. The company has adopted International Financial Reporting Standards and will continue to make English translations of its periodic and annual reports and other press releases available on its website: www.head.com
About Head
HEAD NV is a leading global manufacturer and marketer of premium branded sports equipment.
HEAD NV's ordinary shares are listed on the Vienna Stock Exchange ("HEAD").
Our business is organized into four divisions: Winter Sports, Racquet Sports, Diving and Licensing. We sell products under the HEAD (tennis, squash, paddle and racquetball racquets, tennis balls, tennis footwear, badminton products, alpine skis, ski bindings and ski boots, snowboards, bindings and boots), Penn (tennis and racquetball balls), Tyrolia (ski bindings), and Mares/Dacor (diving equipment) brands.
We hold leading positions in all of our product markets and our products are endorsed by some of the world's top athletes including Richard Gasquet, Andrew Murray, Ivan Ljubicic, Svetlana Kuznetsova, Patty Schnyder, Amelie Mauresmo, Hermann Maier, Bode Miller, Didier Cuche, Marco Buchel, Patrick Staudacher, Maria Riesch, Elisabeth Gorgl, Sarka Zahrobska, Jon Olsson and Gianluca Genoni.
For more information, please visit our website: www.head.com