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| WEBM > SEC Filings for WEBM > Form 8-K on 17-Sep-2009 | All Recent SEC Filings |
17-Sep-2009
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standa
On September 16, 2009, WebMediaBrands Inc. received a notice from the Nasdaq Stock Market indicating that it no longer complies with the requirements of Nasdaq Marketplace Rule 5450(a)(1) for continued listing on the Nasdaq Global Market. The rule requires that shares of WebMediaBrands's stock maintain a minimum bid price of $1.00 per share.
WebMediaBrands has 180 calendar days, or until March 15, 2010, in which to regain compliance with the listing requirement. If WebMediaBrands does not regain compliance prior to the expiration of the 180-day grace period, Nasdaq will provide written notice that WebMediaBrands's securities are subject to delisting. Alternatively, WebMediaBrands may be eligible for an additional 180-day grace period if it meets the initial listing standards, with the exception of bid price, for the Nasdaq Capital Market. To avail itself of this option, WebMediaBrands will need to submit an application to transfer its securities to the Nasdaq Capital Market.
On September 17, 2009, WebMediaBrands issued a press release regarding the notification from Nasdaq, a copy of which is attached to this report as Exhibit 99.1 and incorporated herein by reference.
(d) Exhibits
Exhibit No. Description
99.1 Press release dated September 17, 2009.
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