Garmin has received approval from the Grand Court of the Cayman Islands for its changed place of incorporation, of its group holding company, from the Cayman Islands to Switzerland. Garmin expects that all the conditions to closing this transaction will be met and that it will complete all details prior to the opening of the NASDAQ market on 28 June 2010.
Upon completion of the transaction, the Garmin group holding company will continue to be subject to SEC reporting requirements, and its shares will be listed on the NASDAQ Global Select Market under the symbol ‘GRMN’, Garmin’s current trading symbol.
