(Filed Under Financial and General Interest News). Seamless intimate apparel and activewear maker Tefron Ltd. announced its intention to voluntarily terminate the registration of its ordinary shares with the U.S. Securities and Exchange Commission.

Tefron is able to unregister as its ordinary shares are possessed by fewer than than 300 holders of record. Upon filing the termination with the SEC, Tefron’s obligation to file annual reports will be suspended and the OTC Bulletin Board will no longer quote the company’s shares.

Tefron’s Board of Directors approved the deregistration due to several factors, namely the opportunity to save up to $250,000 per year in material costs and allocation of management resources otherwise used to comply with registration and accruing benefits under U.S. securities laws.

Israel-based Tefron manufactures boutique-quality seamless intimate apparel, engineered-for-performance activewear and swimwear for retailers and brands including Victoria’s Secret, Warnaco/Calvin Klein, The Gap and JCPenney.

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Published 09-21-2011 by Katherine Rautenberg