Radio One Gets NASDAQ Notice Of Delisting
September 23, 2010 at 4:31 AM (PT)
RADIO ONE received notification from the NASDAQ STOCK MARKET that for the 30 consecutive business days ending SEPTEMBER 17th, 2010 the bid price of the Company’s Class D common stock had closed below the minimum $1.00 per share requirement for continued listing under the Listing Rules. As such, the Company’s Class D common stock had become non-compliant with NASDAQ’s continued listing requirements.
The Notification does not affect the Class A common stock.
NASDAQ has given the Company 180 days, until MARCH 21st, 2011, to regain compliance with the rules. If, at anytime through MARCH 21st, 2011, the bid price of the Company’s Class D common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, NASDAQ will provide written notification that the Company has achieved compliance with the Rule.
If the Company does not regain compliance with the Rule by MARCH 21st, 2011, NASDAQ will provide written notification that the Company’s Class D common stock will be delisted.