Globalstar Telecommunications Stock to be Listed On Nasdaq Smallcap Market; Listing Moves From Nasdaq National Market.Business Editors NEW YORK--(BUSINESS WIRE)--June 13, 2001 Globalstar Telecommunications Limited (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 :GSTRF GSTRF Globalstar Telecommunications Ltd ) today announced that it has received approval from the Nasdaq Listing Qualifications Department to move the company's listing to the Nasdaq SmallCap Market, effective at the opening of business, June 14, 2001. Listing on the SmallCap Market will provide a market for the trading of Globalstar shares, which will continue to trade under the same GSTRF ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors . In late May, Nasdaq had determined that Globalstar Telecommunications Limited no longer met the requirements for listing on the Nasdaq National Market and was therefore subject to 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. from that market. The Company applied to have the listing transferred to the Nasdaq SmallCap Market, and this request was granted earlier this week. |
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