RHI Entertainment Receives Notice of Nasdaq Listing Deficiencies
2009年12月31日 - 6:10AM
ビジネスワイヤ(英語)
RHI Entertainment, Inc. (NASDAQ: RHIE), a leading developer,
producer, and distributor of made-for-television (MFT) movies,
miniseries, and other television programming, announced today that
on December 24, 2009 it received notice from The Nasdaq Stock
Market ("Nasdaq") indicating that, for 30 consecutive business
days, the Company’s common stock failed to maintain a minimum
Market Value of Publicly Held Shares (“MVPHS”) of $5,000,000 as
required by Listing Rule 5450 (b)(1)(C) and did not maintain a
minimum bid price of $1.00 per share as required by Listing Rule
5450(a)(1). Neither notice results in an immediate delisting of the
Company’s common stock from Nasdaq.
Pursuant to Nasdaq Listing Rule 5810(c)(3)(D), the Company is
provided a grace period of 90 calendar days, or until March 24,
2010, to regain listing compliance with rule 5450(b)(1)(C). To
regain compliance, the Company’s MVPHS needs to close at $5,000,000
or more for a minimum of 10 consecutive business days. The Company
may apply for transfer of its common stock to The Nasdaq Capital
Market prior to the expiration of the 90-day grace period if it
satisfies all of the requirements for initial listing on The Nasdaq
Capital Market as set forth in Listing Rule 5505.
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the
Company is also provided a grace period of 180 calendar days, or
until June 22, 2010, to comply with Listing Rule 5450 (a)(1). If at
anytime during this grace period the bid price of the Company’s
common stock closes at $1.00 per share or more for a minimum of 10
consecutive business days, Nasdaq will provide the Company written
confirmation of compliance. If the Company does not regain
compliance under Listing Rule 5450(b)(1)(C) within the grace period
of 180 days, Nasdaq will provide written notification to the
Company that its common stock may be delisted. At that time, the
Company may apply for the transfer of its common stock to The
Nasdaq Capital Market prior to the delisting date if it satisfies
all of the requirements, other than minimum bid price, for initial
listing on The Nasdaq Capital Market as set forth in Listing Rule
5505. If the Company elects to apply for such transfer, and the
application is approved, the Company would be eligible for an
additional 180 calendar day grace period.
At this time, neither notification has any effect on the listing
of the Company’s common stock on Nasdaq and the Company’s common
stock will continue to trade on Nasdaq under the symbol RHIE. The
Company is evaluating all of its options following receipt of these
notifications and intends to work diligently to attempt to retain
listing of its common stock on Nasdaq.
About RHI Entertainment
RHI Entertainment, Inc. (NASDAQ: RHIE) develops, produces and
distributes made-for-television movies, miniseries and other
television programming worldwide, and is the leading provider of
new long-form television content in the United States. Under the
leadership of Robert Halmi, Sr. and Robert Halmi, Jr., RHI has
produced and distributed thousands of hours of quality television
programming, and RHI’s productions have received more than 100 Emmy
Awards. In addition to the development, production and distribution
of new content, RHI owns rights to over 1,000 titles comprising
more than 3,500 broadcast hours of long-form television
programming, which are licensed to broadcast and cable networks and
new media outlets globally.
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