Thomas Equipment to Trade on the American Stock Exchange

March 7, 2006 — Thomas Equipment, Inc., Milwaukee, recently announced that its common stock has been approved for trading on the American Stock Exchange (AMEX) under the stock symbol “THM.” Thomas management anticipates that its shares will begin trading on the AMEX during the week of March 13, which will coincide with the discontinuance of the quotation of its shares on the OTC Bulletin Board. The company's approval is contingent upon compliance with all applicable listing standards on the date it begins trading on the American Stock Exchange.

 

"Thomas Equipment, with manufacturing operations in Canada and Korea, has completed its consolidation of all its newly acquired companies and is now positioned to capture meaningful global market share within the small to mid-size construction equipment market," said Clifford Rhee, president and CEO of Thomas Equipment, Inc.

  

According to David Marks, chairman of Thomas Equipment, Inc., because the company meets the more stringent qualifications of the American Stock Exchange, upper management believes it is time to move from the OTC Bulletin Board to a national stock exchange. “The exchange's specialist system should minimize trading volatility and increase liquidity as our business growth gains momentum,” he said. “We look forward to a long and proud association with the American Stock Exchange."

 

Thomas Equipment, Inc. has 21.3 million shares of common stock outstanding and approximately 60.1 million shares of common stock on a fully diluted basis of which insiders hold 28 percent.