Charter Receives Notice Regarding Minimum Bid Price Rule.ST. LOUIS -- Charter Communications Charter Communications NASDAQ: CHTR is an American company providing cable television, high-speed Internet, and telephone services to more than 5.7 million customers in 29 states. It is the third-largest publicly traded cable operator in the U.S. , 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 : CHTR CHTR Charter CHTR Canadian High Temperature Research ) announced today that it received notice from the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. on April 14, 2008 that its Class A common stock had closed below $1.00 per share for 30 consecutive business days, and the Company is therefore not in compliance with Marketplace Rule 4450(a)(5). In accordance with Marketplace Rule 4450(e)(2), the Company may regain compliance if at any time by October 13, 2008, the Company's Class A common stock closes at or above $1.00 for 10 consecutive business days and the Company otherwise meets the Nasdaq's listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. . If the Company does not regain compliance by October 13, 2008, the Company may apply for continued listing on The Nasdaq Capital Market Originally called the NASDAQ Small Cap Market, NASDAQ announced a name change to the NASDAQ Capital Market on September 27, 2005. [1] The NASDAQ Capital Market exists for securities of smaller, less-capitalized companies (small caps) that do not qualify for if it meets the Nasdaq's initial listing requirements other than the minimum price rule at the time. If approved, the Company will be granted up to an additional 180 calendar days to regain compliance while trading on The Nasdaq Capital Market. Neither the debt covenants applicable to Charter or its subsidiaries, nor its ongoing operations are directly affected by the Company's non-compliance with Marketplace Rule 4450(a)(5) or continued trading on the Nasdaq Global Select Market. Charter is committed to continuing to improve our operating and financial results to increase value for our shareholders. About Charter Communications Charter Communications, Inc. is a leading broadband communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. and the third-largest publicly traded cable operator in the United States. Charter provides a full range of advanced broadband services, including Charter Digital[R] video entertainment programming, Charter High-Speed[R] Internet access, and Charter Telephone[R]. Charter Business[TM] similarly provides scalable, tailored and cost-effective broadband communications solutions to business organizations, such as business-to-business Internet access, data networking, video and music entertainment services and business telephone. Charter's advertising sales and production services are sold under the Charter Media[R] brand. More information about Charter can be found at www.charter.com. |
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