Bethesda, Feb. 6, 2013 (GLOBE NEWSWIRE) -- India Globalization Capital, Inc. (NYSE MKT: IGC)(NYSE Amex: IGC), a company competing in the rapidly growingmaterials and infrastructure industry in India and China, todayannounced it intends to voluntarily delist its Units, which arecurrently trading under the symbol IGC.U (CUSIP number 45408X209 ),from the NYSE MKT (the "Exchange"). The number of Unit holders is less than a hundred and it barelytrades. After a review of the expense of maintaining the Unitslisted, the Board of Directors of the Company determined that it isin the best interests of IGC to voluntarily delist its Units fromNYSE MKT. The Company formally notified NYSE MKT on February 5,2013 of the Company's intention to file a Form 25 - Notification ofRemoval from Listing and/or Registration under Section 12(b) of theSecurities Exchange Act of 1934, as amended, with the SEC on orabout February 15, 2013. The Company expects that thedelisting will take effect on or about February 26, 2013. TheCompany does not intend to re-list its Units on another securitiesexchange. Each Unit consists of one share of common stock and twowarrants. Each warrant entitles the holder to purchase one share ofcommon stock. The common stock and warrants are currently listedand trade under the symbols IGC and IGC.WT, respectively. Holdersof the Units may contact the Company in order to separate the Unitsinto common stock and warrants at any time including after theUnits are delisted from the Exchange. About IGC: Based in Bethesda, Maryland, India Globalization Capital, Inc.(IGC) is a materials and infrastructure company operating in Indiaand China. We currently supply Iron ore to SteelCompanies operating in China. For more information aboutIGC, please visit IGC's Web site at www.indiaglobalcap.com. For information about Ironman,please visit www.hfironman.com. Forward-looking Statements: Some of the statements contained in this press release that arenot historical facts constitute forward-looking statements underthe federal securities laws. Forward-looking statementscan be identified by the use of the words "may," "will," "should,""could," "expects," "post", "plans," "anticipates," "believes,""estimates," "predicts," "intends," "potential," "proposed,""confident" or "continue" or the negative of thoseterms. These statements are not a guarantee of futuredevelopments and are subject to risks, uncertainties and otherfactors, some of which are beyond IGC's control and are difficultto predict. Consequently, actual results may differmaterially from information contained in the forward-lookingstatements as a result of future changes or developments in ourbusiness, our competitive environment, infrastructure demands, Ironore availability and governmental, regulatory, political, economic,legal and social conditions in China and India.
The Company undertakes no obligation to publicly update anyforward-looking statements, whether as a result of new information,future events, or otherwise. Other factors and risksthat could cause or contribute to actual results differingmaterially from such forward-looking statements have been discussedin greater detail in IGC's Schedule 14A, Form 10-K for FYE 2012,Form 10-Q for the quarter ended September 30, 2012, Form S-3, andthe Post-effective Amendment No. 1 on Form S-3 to Form S-1 filedwith the Securities and Exchange Commission on December 9, 2011,July 16, 2012, November 14, 2012, December 14, 2012, and December26, 2012 respectively.
CONTACT: Investors Contact Information Claudia Grimaldi 301-983-0998