GateHouse Media Prepares for Shares to be Traded in the Over-The-Counter Market Following NYSE Delisting Action
2008年10月22日 - 7:00AM
PRニュース・ワイアー (英語)
FAIRPORT, N.Y., Oct. 21 /PRNewswire-FirstCall/ -- GateHouse Media,
Inc. (the "Company" or "GateHouse Media") today announced that it
has been notified of a decision by NYSE Regulation, Inc. ("NYSE
Regulation") to suspend trading in GateHouse Media's common stock
(ticker symbol GHS) prior to the market opening on Friday, October
24, 2008. This action was taken because GateHouse Media has not
satisfied the New York Stock Exchange's ("NYSE") continued listing
standard requiring the Company to maintain an average global market
capitalization over a consecutive 30 trading-day period of not less
than $25 million, which is the minimum threshold for continued
listing. The Company expects its common stock will be traded in the
over-the-counter market and quoted on the OTC Bulletin Board after
delisting from the NYSE under a ticker symbol yet to be assigned.
As previously disclosed, the Company received notification from the
NYSE on August 21, 2008 that the Company had fallen below the
NYSE's continued listing standards for average global market
capitalization over a consecutive 30 trading day period of not less
than $75 million and $1.00 average closing price over a consecutive
30 trading day period and had submitted a business plan to the NYSE
Regulation for coming back into compliance for continued listing.
The Company has been in communication with the NYSE regarding the
Company's non-compliance with continued listing standards but was
unsuccessful in its efforts to avoid suspension and delisting.
Application to the Securities and Exchange Commission to delist
GateHouse Media's common stock is pending the completion of
applicable procedures, including GateHouse Media's right to request
a review of this determination by a Committee of the Board of
Directors of the NYSE. The Company does not intend to request such
a review. Forward-looking Statements This release contains
forward-looking information about the Company that is intended to
be covered by the safe harbor for forward-looking statements
provided by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that are not historical
facts. These statements can be identified by the use of
forward-looking terminology such as "believe," "expect," "may,"
"will," "should," "protect," "plan," "seek," " intend," or
"anticipate" or the negative thereof or comparable terminology.
These forward-looking statements involve a number of risks and
uncertainties, which could cause actual results to differ
materially. These and additional risk factors are outlined in the
Company's SEC reports, including but not limited to its most recent
Annual Report on Form 10-K filed with the SEC under Commission File
Number 001-33091. When considering forward-looking statements,
readers should keep in mind the risk factors and other cautionary
statements in such SEC filings. Readers are also cautioned not to
place undue reliance on any of these forward-looking statements,
which reflect management's views as of the date of this press
release. The factors discussed above and the other factors noted in
the Company's SEC filings could cause actual results to differ
significantly from those contained in any forward-looking
statement. Although the Company believes that the expectations
reflected in the forward-looking statements are reasonable, it
cannot guarantee future results, levels of activity, performance or
achievements and expressly disclaims any obligation to release
publicly any updates or revisions to any forward-looking statements
to reflect any change in expectations with regard thereto or change
in events, conditions or circumstances on which any statement is
based. The Company is not responsible for updating the information
contained in this press release beyond the published date, or for
changes made to this press release by wire services, Internet
service providers or other media. DATASOURCE: GateHouse Media, Inc.
CONTACT: Mark Maring, Investor Relations, +1-585-598-6874
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