The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

HUGHES Telematics Voluntarily Moves to OTC Bulletin Board

ATLANTA--HUGHES Telematics, Inc. (NYSE Amex: HTC) today announced that it has given formal notice to NYSE Amex, LLC (the “Exchange”) of the Company’s intention to voluntarily delist its common stock, warrants and units from the Exchange and take appropriate actions for its securities to be quoted on the OTC Bulletin Board, a nationally recognized electronic trading market. The Company also currently intends to seek a listing on the NASDAQ or the Exchange before year-end.

As previously disclosed, on April 2, 2009, the Company had been informed by the Exchange that it was not in compliance with the public stockholder requirements of Section 102(a) of the NYSE Amex Company Guide because the Company has fewer than 400 public stockholders, due to its concentrated ownership structure. Following discussions with Exchange staff, the Company’s management, with approval of the Company’s Board of Directors, determined to pursue voluntary delisting from the Exchange and to take appropriate actions for its common stock, warrants and units to be quoted on the OTC Bulletin Board. The Company anticipates that it will provide notification (Form 25) to the Securities and Exchange Commission on or around June 1, 2009. The Company further anticipates that the last day of trading of its common stock on the Exchange will be on or around June 10, 2009, following such time trading will commence on the OTC Bulletin Board.