Chyron Corporation to Appeal Possible Delisting From New York Stock Exchange.Business Editors & High-Tech Writers MELVILLE, N.Y.--(BUSINESS WIRE)--April 5, 2001 Chyron Corporation (NYSE NYSE See: New York Stock Exchange :CHY CHY Commission for Hydrology (WMO) CHY Cherry-Burrel Corporation ), a leading provider of broadcast technology, today announced that it has received notification that its stock should be removed from 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. (NYSE) list because it is not in compliance with the revised continued 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. . Chyron Chyron may refer to:
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. . In July 1999 the NYSE revised the minimum requirements for continued listing by eliminating the net tangible asset Tangible Asset An asset that has a physical form such as machinery, buildings and land. Notes: This is the opposite of an intangible asset such as a patent or trademark. Whether an asset is tangible or intangible isn't inherently good or bad. requirement of $12 million and replacing it with a stockholders' equity of $50 million and global market capitalization to $50 million from $12 million. The Company was allotted 18 months to comply with the revised listing requirements that required Chyron to more than double its shareholders' equity. During this period the Company had two successful fund-raising initiatives, however, was unable to meet the modified requirements. Roger Henderson, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Chyron, said, "We are, of course, disappointed that the NYSE raised its listing requirements to a level that we have been unable to meet. However, we do not believe this is a reflection of our underlying business strengths and strategy. We continue to take action to ensure that our core businesses in the USA and Europe provide a solid foundation for the corporation while developing opportunities in new media markets. We look forward to keeping our shareholders informed of our progress on those initiatives." About Chyron Chyron Corporation is the world leader in the development and delivery of products and services in the media casting market - an area which delivers media to consumers that includes high definition TV, standard definition TV, interactive TV or any form of broadband. The Company provides broadcast graphics, high bandwidth and multi media signals, streaming media technology and content management. Chyron is the only global company with 30 years of expertise and technology to provide the services and solutions for streaming media and interactive television, enabling the highest quality experience to be delivered to consumers. Chyron Corporation's existing customer base is comprised of nearly all television stations and TV networks throughout Europe and North America. With offices in the U.K., France, Hong Kong and U.S. and an enviable client list that includes the world's leading broadcasters, Chyron has been providing the owners of content with value added products and services for over 30 years. For more information about Chyron products and services, please visit the Company website at http://www.chyron.com or contact Chyron Corporation, 5 Hub Drive, Melville, NY 11747. TEL TEL Telephone TEL Telegram TEL Telugu (langauge) TEL Terrorist Exclusion List TEL Technology-Enhanced Learning TEL Transporter-Erector-Launcher TEL Tetra-Ethyl Lead TEL Team Deutsche Telekom : 1-631-845-2000; FAX: 1-631-845-3896; EMAIL See e-mail. : info@chyron.com. Certain of these statements contained in this press release may be deemed forward-looking statements. Such statements, and other matters addressed in this press release, involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially from these statements and matters are the risks and other factors detailed, from time to time, in the Company's reports with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q. All trademarks are the property of their respective owners. |
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