Avenue Entertainment Group Inc. Receives Extension to Appeal American Stock Exchange Delisting.Business Editors LOS ANGELES--(BUSINESS WIRE)--March 15, 2001 Avenue Entertainment Group Inc. (AMEX AMEX See: American Stock Exchange :PIX) today reported that it has secured an extension of 30 days to appeal the American Stock Exchange's decision to proceed with the delisting Delisting When the stock of a company is removed from a stock exchange. Notes: Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. of the company. The hearing has been rescheduled for April 17, 2001, to allow the company time to consummate one or more transactions that are intended to strengthen the company's capitalization. The company recently engaged the firm Alan Stone & Company LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to advise on a full range of investment banking, merger and acquisition, and investor relation services. There can be no assurance that the company will be successful in consummating such a transaction or that the committee will grant the company's request for continued listing. If the company is not successful in its appeal, the company's common shares will trade on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including, but not limited to: economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices; the inherent uncertainty of the film and television production business (in which success of a product depends upon unpredictable and changing factors such as competition and audience acceptance); and other factors discussed in the company's various filings with the Securities and Exchange Commission. |
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