Accredited to Delist, Deregister From NYSE

Published October 22, 2007, 2:00 p.m. EDT

1 Min Read

Accredited Home Lenders Holding Co., a San Diego-based nonprime mortgage company, and its Accredited Mortgage Loan REIT Trust subsidiary have announced plans to delist and deregister the subsidiary's preferred shares from the New York Stock Exchange.The real estate investment trust subsidiary has provided written notice to the NYSE of its intent to voluntarily delist its 9.75% series A perpetual cumulative preferred shares. "Current market conditions do not warrant the significant annual costs associated with our being a reporting company," said James A. Konrath, chairman and chief executive officer of the parent and subsidiary companies. "Our board of directors and board of trustees believe it is prudent to use these funds to enhance Accredited's and REIT's financial performance." Accredited can be found on the Web at http://www.accredhome.com.

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