Regent Receives Delisting Notice from NASDAQ
| RADIO ONLINE | , , | :am CT |
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Regent Communications received a written notification on November 30 from the Nasdaq Stock Market that, based upon the company's failure to regain compliance with the $1.00 per share minimum bid price, Regent's common stock is subject to delisting -- unless the company requests a hearing to appear before a Nasdaq Listing Qualifications Panel before 4pm on December 7.
The company requested such a hearing on Friday, which will stay any action to the Staff Determination until the Nasdaq Listing Qualifications Panel renders a decision subsequent to the hearing. However, Regent says, there can be no assurance that Nasdaq will grant the Company's request for continued listing.
As previously reported on August 15, 2008, Regent received a notice from Nasdaq indicating that the company failed to comply with the minimum bid price requirement because the bid price of its common stock closed under $1.00 per share for 30 consecutive business days. Regent was given until February 9, 2009, to regain compliance.
