NYSE Regulation, Inc. announced today that it determined that the 8 5/8% Senior Notes due December 15, 2007 of Remy International, Inc. (formerly Delco Remy International, Inc.) or the "Company"-- ticker symbol RMY 07– should be suspended immediately. The Exchange's action is being taken in view of the fact that on June 15, 2007, the Company announced that is has entered into an agreement to consummate a financial restructuring through a prepackaged Chapter 11 proceeding.
The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. Application to the Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the Company of the NYSE staff’s decision.
The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.
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