BNS Falls Below NYSE Listing Standards.Business Editors WARWICK, R.I.--(BUSINESS WIRE)--July 16, 2001 BNS Noun 1. BNS - a bachelor's degree in naval science Bachelor of Naval Science bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies Co. (NYSE NYSE See: New York Stock Exchange :BNS) (formerly known as Brown & Sharpe Manufacturing Company) announced that, as a result of the sale of its Metrology Business to Hexagon AB and the subsequent $15.25 per share distribution to shareholders on May 25, 2001 (post one-for-five reverse stock split), it has fallen below the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , Inc.'s ("NYSE") continued listing standards for market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. and stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. . The Company has received official notice of this non-compliance from the NYSE. The Listings and Compliance Committee of the NYSE will determine the suitability for continued listing after giving consideration to the Company's planned submission of a definitive business plan that would bring it back above continued listing standards within specific timelines. This report contains forward-looking statements, as defined in 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. Such forward-looking statements involve a number of assumptions, risks, and uncertainties that could cause actual results of the Company to differ materially from those matters expressed in or implied by such forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, which are in some cases beyond the control of the Company and may cause the actual results, performance, or achievements of the Company to differ materially from anticipated future results, performance, or achievements expressed or implied by such forward-looking statements. Additional information regarding this risk factor and uncertainties is detailed from time to time in the Company's SEC filings. |
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