G & K (NASDAQ:GKSRA)
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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.