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| CHP > SEC Filings for CHP > Form 8-K on 28-Apr-2009 | All Recent SEC Filings |
28-Apr-2009
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standa
On April 23, 2009, we were notified by the New York Stock Exchange (the "NYSE")
that we had fallen below the NYSE's continued listing standards relating to
minimum average global market capitalization and total stockholders equity.
Section 802.01B of the NYSE's Listed Company Manual requires that our average
global market capitalization and total stockholders equity both be not less than
$75 million over a consecutive 30 trading day period.
We intend to notify the NYSE that we will submit a plan within 45 days from the receipt of the NYSE notice that demonstrates our ability to regain compliance within 18 months. Upon receipt of our plan, the NYSE has 45 calendar days to review and determine whether we have made a reasonable demonstration of our ability to come into conformity with the relevant standards within the 18-month period. The NYSE will either accept the plan, at which time we will be subject to ongoing monitoring for compliance with this plan, or the NYSE will not accept the plan and we will be subject to suspension and delisting proceedings. During the 18-month cure period, our shares will continue to be listed and traded on the NYSE, subject to our compliance with other NYSE continued listing standards.
A copy of our press release related to this matter is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
99.1 Press Release dated April 28, 2009, furnished herewith.
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