Rio Vista Energy Partners L.P. Receives Nasdaq Notice of Minimum Bid Price Non-Compliance
2009年9月18日 - 6:53AM
ビジネスワイヤ(英語)
Rio Vista Energy Partners L.P. (NASDAQ: RVEP), an energy
services master limited partnership, announced today that it
received on September 16, 2009 written notification from The Nasdaq
Stock Market’s Listing Qualification Department stating that, for
the last 30 consecutive business days, the closing bid price of Rio
Vista’s common units has been below the minimum $1.00 per share
requirement for continued inclusion under Marketplace
Rule 5550(a)(2) (the “Rule”). In accordance with
Marketplace Rule 5810(c)(3)(A), Rio Vista will be provided
with 180 calendar days, or until March 15, 2010, to regain
compliance. If at any time before March 15, 2010, the bid price of
Rio Vista’s common units closes at $1.00 per share or more for a
minimum of 10 consecutive business days, Nasdaq staff will provide
written notification that Rio Vista complies with the Rule. If
compliance with the Rule cannot be demonstrated by March 15, 2010,
Nasdaq will issue Rio Vista written notification that its common
units are subject to delisting. Rio Vista will also be entitled to
an additional 180 calendar day compliance period if Rio Vista can
demonstrate that it meets the initial listing standards, with the
exception of the Rule, for The Nasdaq Capital Market.
About Rio Vista Energy Partners L.P.
Rio Vista is a master limited partnership engaged in liquid bulk
storage, transloading and transportation of chemicals and petroleum
products through its assets and operations in Hopewell, Virginia.
Penn Octane Corporation (OTCBB: POCC) owns 75% of Rio Vista GP LLC,
the general partner of Rio Vista.
Forward-Looking Statements
Certain of the statements in this news release are
forward-looking statements, including statements regarding Rio
Vista’s ability to meet Nasdaq requirements for continued listing
on The Nasdaq Capital Market. There is no assurance that Rio
Vista’s will be able to regain compliance in accordance with the
Rule. If Rio Vista’s common units were to be delisted from the
Nasdaq Capital Market, common unitholders may be negatively
impacted. Additional information regarding risks affecting Rio
Vista’s business may be found in Rio Vista’s most recent reports on
Form 8-K, Form 10-Q and Form 10-K filed with the Securities and
Exchange Commission.
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