G&K Services to Change Ticker Symbol From GKSRA to GKSR
18 Janeiro 2006 - 7:30PM
Business Wire
G&K Services, Inc. (Nasdaq:GKSRA), a market leader in branded
identity apparel programs and facility services, announced today
that G&K Services will begin trading under ticker symbol GKSR
on the NASDAQ National Market effective January 23, 2006. This
change results from the previously announced conversion of the
Company's Class B Common Stock to Class A Common Stock upon the
retirement of Richard Fink, former chairman, as an employee of the
company. Effective with Mr. Fink's retirement on December 31, 2005,
all Class B Common Stock was converted to Class A Common Stock.
Each Class B share had the same monetary value as a Class A share,
therefore, the conversion did not affect the market valuation of
the company. Also, the Class B Common Stock was previously included
in both the basic and diluted shares outstanding used to calculate
the company's earnings per share, therefore, this conversion has no
impact on previously reported earnings per share. As a result of
this change, the company will no longer have two classes of common
stock outstanding. Additional information regarding the conversion
of the Company's Class B Common Stock can be found on Form 8-K
filed with the SEC on January 6, 2006. About G&K Services, Inc.
Headquartered in Minneapolis, Minnesota, G&K Services, Inc. is
a market leader in branded identity apparel programs and facility
services in the United States, and is the largest such provider in
Canada. G&K operates over 140 processing facilities and branch
offices, serving more than 160,000 customers.
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