Atlantis Plastics Announces NASDAQ Deficiency Notice.ATLANTA -- Atlantis Plastics, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ATPL ATPL Airline Transport Pilot's Licence ATPL Acme Tele Power Limited (Haryana, India) ) today announced that it received a NASDAQ Staff Deficiency Letter Deficiency letter Notification from the SEC to a prospective issuer of securities that revisions or additions need to be made to the preliminary prospectus. deficiency letter on March 23, 2007, indicating that the Company fails to comply with the minimum market value of publicly held shares requirement for continued listing on the NASDAQ Global Market set forth in Marketplace Rule 4450(b)(3). This rule requires the Company to have a minimum market value of publicly held shares of at least $15 million. The Company is provided with 90 calendar days, or until June 21, 2007, to regain compliance. If, at any time prior to June 21, 2007, the market value of the Company's publicly held shares is $15 million or more for 10 consecutive trading days In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. , the Company will regain compliance. If compliance cannot be demonstrated by June 21, 2007, NASDAQ will provide written notification to the Company that its securities will be delisted. At that time, the Company will be permitted to appeal NASDAQ's determination to a Listing Qualifications Panel. The Company intends to monitor the market value of its listed securities Listed Security Securities that have been accepted for trading purposes by a recognized and regulated exchange. Notes: Listed securities have the advantage of higher liquidity within a regulated environment. and consider available options if its common stock does not trade at a level likely to result in the Company regaining compliance with the minimum market value of publicly held shares requirement by June 21, 2007. Atlantis Plastics, Inc. is a leading U.S. manufacturer of polyethylene polyethylene (pŏl'ēĕth`əlēn), widely used plastic. It is a polymer of ethylene, CH2=CH2, having the formula (-CH2-CH2-)n stretch and custom films and molded plastic products. Stretch films are used to wrap pallets of materials for shipping or storage. Custom films are made-to-order specialty film products used in the industrial and packaging markets. Atlantis' injection molded and profile extruded plastic products are used primarily in the appliance, automotive, agricultural, building supply, and recreational vehicle industries. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion