Western Liberty Securities Delisted from NYSE Amex


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Western Liberty Securities Delisted from NYSE Amex

Posted June 04, 2010 2:46PM PST

The shares, warrants and units of Western Liberty Bancorp have been delisted by the NYSE Amex Stock Exchange as of today, according to a regulatory filing by the Las Vegas-based bank holding company.

Western Liberty, formerly Global Consumer Acquisition Corp. received shareholder approval last October to acquire Capitol Bancorp's Nevada-based subsidiary 1st Commerce Bank.

However, in November it said that it would be unable to complete the deal, and instead would be acquiring Service1st Bank of Nevada. It had scheduled a shareholder meeting for March to hold a vote on the new transaction, but postponed it at the last minute and has not yet rescheduled.

While technically still a bank holding company, Western Liberty currently has no assets, the ultimate reason the exchange gave for the delisting. The company has unsuccessfully appealed the delisting three times since the SPAC's shareholders initially approved its plans.

The company last traded June 1 at $6.29 with warrants last quoted June 2 at 35 cents.
Filing: 25-NSE

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