October 18, 2005 Form 8-K
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
__________________
FORM
8-K
_______________
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of
Report (Date of earliest event reported): October 12, 2005
Katy
Industries, Inc.
(Exact
name of registrant as specified in its charter)
|
Delaware
|
001-05558
|
75--1277589
|
|
(State
of Incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
765
Straits Turnpike
Middlebury,
Connecticut 06762
(Address
of principal executive offices) (Zip Code)
(203)
598-0397
(Registrant’s
telephone number, including area code)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[
]
Written communications pursuant to Rule 425 under the Securities
Act
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
[
]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On
October 12, 2005, Katy Industries, Inc. received notification from the New
York
Stock Exchange ("NYSE") that the Company was not in compliance with the NYSE’s
continued listing standards. Katy is considered "below criteria" by the NYSE
because the Company’s total market capitalization was less than $75 million over
a consecutive 30 trading-day period and its shareholders’ equity was less than
$75 million as of June 30, 2005. While Katy was in compliance with previous
continued listing standards set forth by the NYSE, the NYSE adopted new
continued listing standards, effective June 9, 2005, which increased
the
former standards significantly.
In
accordance with the continued listing criteria set forth by the NYSE, the
Company intends to present a plan to the NYSE within 45 days of its receipt
of
the notice, demonstrating how it intends to comply with the continued listing
standards within 18 months of its receipt of the notice. The NYSE may take
up to
45 days to review and evaluate the plan after it is submitted. If the plan
is
accepted, the Company will be subject to quarterly monitoring for compliance
by
the NYSE. If the NYSE does not accept the plan or if the Company is unable
to
achieve compliance with the NYSE’s continued listing criteria through its
implementation of the plan, the Company will be subject to NYSE trading
suspension and delisting, at which time the Company would intend to apply
to
have its shares listed on another stock exchange or quotation
system.
Beginning
October 19, 2005, the NYSE will make available on its consolidated tape,
a ".BC"
indicator transmitted with the Company’s listing symbol to identify that the
Company is below the NYSE’s quantitative continued listing
standards.
The
press
release announcing receipt of the listing notification from the NYSE is attached
as Exhibit 99.1.
(c)
Exhibits
99.1
Press Release, dated October 17, 2005, concerning failure to satisfy a continued
listing rule of the NYSE.
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
KATY
INDUSTRIES, INC.
(Registrant)
By:
/s/ Amir Rosenthal
Amir
Rosenthal
Vice
President, Chief Financial Officer,
General
Counsel and Secretary
Date:
October 18, 2005
Exhibits
Exhibit
No. Description
99.1 Press
Release, dated October 17, 2005, concerning failure to satisfy a continued
listing rule of the NYSE.