PRNewswire-FirstCall/ -- On April 15, 2007, Triple Crown Media, Inc. (NASDAQ:TCMI) (the "Company") received an initial notification from The Nasdaq Stock Market that the Company had not maintained a minimum market value of its shares of common stock in accordance with Marketplace Rule 4450(e)(1) and would be required to regain compliance by July 14, 2008.
On July 16, 2008 the Company received a follow-up notification from The Nasdaq Stock Market that the Company has not regained compliance in accordance with Marketplace Rule 4450(e)(1). Accordingly, its securities will be delisted from The Nasdaq Global Market. Trading of the Company's common stock will be suspended at the opening of business on July 25, 2008, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on The Nasdaq Stock Market. The Company's securities will continue to be quoted in the pink sheets under the symbol TCMI.
Monday, July 21, 2008
Triple Crown Media, Inc. Announces Nasdaq Staff Determination Letter
Wednesday, July 16, 2008
Omni Financial Services Elects to Delist Voluntarily from Nasdaq Stock Market
BUSINESS WIRE --Omni Financial Services, Inc. (NASDAQ: OFSI) (the “Company”), the bank holding company for Omni National Bank (the “Bank”), today announced that on July 13, 2008, the Company’s Board of Directors voted to delist the Company’s common stock from the Nasdaq Stock Market (“Nasdaq”) on a voluntary basis. The Board determined that costs of maintaining the listing outweighed the benefits, given the relatively low public float and level of trading activity for the common stock and the expenses associated with continued listing, including listing fees and compliance costs relating to the issues identified below. The Company anticipates that Nasdaq will suspend trading in the common stock within 10 days after the date of this press release. The delisting will become final and effective 10 days after the Company files a Form 25 with the Securities and Exchange Commission (“SEC”), which the Company anticipates filing on or about July 25, 2008. The Company has not yet determined whether the common stock will continue to trade via the “pink sheets” after the delisting.
The Company has previously reported its receipt of notices from Nasdaq indicating that the Company is not in compliance with the following Nasdaq Global Market listing requirements: (i) Marketplace Rule 4310(c)(14), which requires timely filing of periodic reports with the SEC; (ii) Marketplace Rule 4450(a)(2), which requires a minimum market value of publicly held shares (“MVPHS”) of $5,000,000; and (iii) Marketplace Rule 4450(a)(5), which requires a minimum closing bid price of $1.00 per share. The Company has been given until July 15, 2008 to file its Annual Report on Form 10-K for the year ended December 31, 2007 (the “10-K”) and until August 15, 2008 to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, but is continuing to address the previously announced valuation issues relating to these reports and will be unable to file the 10-K within the time frame stated above. The compliance deadlines for the MVPHS and bid price requirements were October 8, 2008 and December 29, 2008.
