Radio One Regains Compliance With NASDAQ Listing Rules
November 23, 2010 at 4:16 AM (PT)
RADIO ONE reported YESTERDAY (11/22) that the Company had received a letter from The NASDAQ Stock Market, advising the Company that its Class D shares, traded under the symbol ROIAK, had regained compliance with NASDAQ's minimum bid price listing requirements and were in good standing on THE NASDAQ Global Market.
On SEPTEMBER 20th (NET NEWS 9/23), RADIO ONE had received a notice of deficiency from NASDAQ with respect to the Class D shares, notifying the Company that for the 30 consecutive business days preceding the date of the letter, the bid price of the Company's Class D shares had closed below the $1.00 per share minimum bid price required for continued listing, and that the Class D shares had 180 days to regain compliance by meeting or exceeding the minimum bid price for a period of at least 10 consecutive trading days.
The letter received from NASDAQ YESTERDAY stated that because the Class D shares closed above the $1.00 minimum bid price for the 10 consecutive trading day period from NOVEMBER 8tht-19th, the Company had regained compliance and the matter was now closed.