NEW YORK, July 20, 2020 – The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Briggs & Stratton Corporation (the “Company”) — ticker symbol BGG — from the NYSE. Trading in the Company’s common stock will be suspended immediately.
NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to Listed Company Manual Section 802.01D after the Company’s July 20, 2020 disclosure that the Company commenced voluntary Chapter 11 proceedings under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for Eastern District of Missouri. In reaching its delisting determination, NYSE Regulation noted the uncertainty as to the ultimate effect of this process on the value of the Company’s common stock.
The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Company’s securities upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.
Company Contacts:
Rick Carpenter
Briggs & Stratton Corporation
414.259.5916
carpenter.rick@basco.com