Global Vacation Group Submits Plan with New York Stock Exchange.Business Editors WASHINGTON, D.C.--(BUSINESS WIRE)--June 9, 2000 Global Vacation Group, Inc. (NYSE NYSE See: New York Stock Exchange : GVG GVG Giving GVG Grass Valley Group GVG Guild Versus Guild (Guild Wars, online game) GVG Grundstücksverwaltungsgesellschaft der Stadt Mainz ), one of the largest U.S. providers of value-added vacation products and services, today announced that it has been advised by 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) that the Company currently falls below the NYSE's continued listing standards requiring total market capitalization Total Market Capitalization The total market value of all of a firm's outstanding securities. of not less than $50 million, and total shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. of not less than $50 million. At the market close on June 8, 2000 GVG's total market capitalization was approximately $38.7 million. On March 31, 2000, the Company's total shareholders' equity was approximately $46.1 million. The Company, in accordance with NYSE rules, submitted a plan on June 9, 2000, demonstrating how the Company will comply with NYSE rules. If the plan is accepted by NYSE's Listing and Compliance Committee, the company will be subject to quarterly monitoring for compliance; and if it is not accepted, the Company will be subject to the NYSE trading suspension and delisting. Should the Company's shares cease being traded on the NYSE, the Company believes that an alternative trading venue will be available. The matters in this press release include "forward looking statements" within the meaning of the 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. provisions of Section 27A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934 and are qualified by cautionary statements contained herein and in Global Vacation Group's filings with the Securities and Exchange Commission. |
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