Katy Industries, Inc. Form 8-K dated April 10, 2007
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
__________________
FORM
8-K
_______________
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of
Report (Date of earliest event reported): April 10, 2007
Katy
Industries, Inc.
(Exact
name of registrant as specified in its charter)
Delaware 001-05558
75--1277589
(State
or
other jurisdiction
(Commission
File Number) (IRS
Employer
of
incorporation) Identification
No.)
2461
South Clark Street, Suite 630
Arlington,
Virginia 22202
(Address
of principal executive offices) (Zip Code)
(703)
236-4300
(Registrant’s
telephone number, including area code)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[
]
Written communications pursuant to Rule 425 under the Securities
Act
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
[
]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
Katy
Industries, Inc. (“Katy”) announced today that the New York Stock Exchange
expects to suspend trading of Katy’s shares of common stock (Symbol: KT) prior
to the market opening on April 13, 2007. The New York Stock Exchange (“NYSE”)
notified Katy that it did not comply with the continuing listing standards
of
the NYSE in November 2005. Katy does not meet the required market capitalization
level of $75.0 million over a consecutive thirty day trading day period or
the
required total stockholders’ equity of not less than $75.0 million.
Katy
expects the NYSE will proceed in delisting Katy’s shares of common stock from
the exchange by application with the Securities and Exchange Commission.
It
is
currently expected that the stock will trade on the OTC Bulletin Board, upon
approval of its application.
The
press
release announcing the expected suspension from the NYSE is attached as Exhibit
99.1.
This
Current Report on Form 8-K may contain various “forward-looking
statements” as defined in the Private Securities Litigation Reform Act of 1995
including any future increase or decrease in Katy’s market capitalization,
whether the OTC Bulletin Board will approve Katy’s application for reporting and
whether the OTC Bulletin Board will provide liquidity to its
stockholders.
The
forward-looking statements are based on the beliefs of Katy’s
management, as well as assumptions made by, and information currently available
to, the
company’s
management. These
statements are subject to risks and uncertainties that may cause actual results
to differ materially from the statements and other information contained herein.
Risks and uncertainties include but are not limited to: economic conditions
in
North America; changes to Katy’s cost structure; the effect of changes in Katy’s
operations and strategic direction; Katy’s ability to identify and respond to
evolving trends in demographics and consumer preferences; Katy’s ability to
effectively invest capital to realize Katy’s strategic objectives; and the level
of trading, if any, of Katy’s common stock on the OTC Bulletin Board.
Additionally, the
forward-looking statements are
based
on Katy’s
current expectations and projections about future events and trends affecting
the financial condition of its
business
and are not a guarantee of future preference. Undue reliance should not be
placed on such
forward-looking statements, as they speak only as of the date hereof and we
undertake no obligation to update these statements to reflect subsequent events
or circumstances, except as may be required by law. Additional information
regarding these and other risks and uncertainties is contained in Katy’s
periodic filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-K for the fiscal year ended December 31, 2006. Katy
undertakes no obligation to revise or update such statements to reflect current
events or circumstances after the date hereof or to reflect the occurrence
of
unanticipated events.
(d)
Exhibits
99.1
Press
Release, dated April 9, 2007, announcing the expected suspension from the
NYSE.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
KATY
INDUSTRIES, INC.
(Registrant)
By:
/s/
Amir Rosenthal
Amir
Rosenthal
Vice
President, Chief Financial Officer,
General
Counsel and Secretary
Date:
April 10, 2007
Exhibits
Exhibit
No. Description
99.1 Press
Release, dated April 9, 2007, announcing the expected suspension from the
NYSE.