Daw Technologies Receives Nasdaq Notice
Apr 17, 2001, 01:00 ET from Daw Technologies, Inc.
SALT LAKE CITY, April 17 /PRNewswire/ -- Daw Technologies, Inc. (Nasdaq: DAWK), a leader in the design, engineering and installation of ultra-clean manufacturing environments, and a contract manufacturer, announced that it has received a Nasdaq Staff Determination letter dated April 11, 2001 indicating that the company fails to comply with the minimum bid price requirement for continued listing set forth in Marketplace Rule 4450(a)(5), and that its common stock is, therefore, subject to delisting from the Nasdaq National Market. The company has requested a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination. The company's common stock will continue to be listed on the Nasdaq National Market pending the conclusion of the appeal. It is anticipated that the appeal process will take approximately two months. As part of the appeal process, the company will prepare and present a plan for achieving and maintaining compliance with the minimum bid requirement for continued listing. The company intends to vigorously pursue its appeal and will carefully examine all available options. There can be no assurance that the Panel will grant the company's request for continued listing. If the Company's common stock is delisted from the Nasdaq National Market, the stock should nevertheless be eligible to be quoted on the OTC Bulletin Board. For further information, contact: B.J. Mendenhall, Chief Financial Officer, Daw Technologies, Inc., (801) 977-3100
SOURCE Daw Technologies, Inc.
SALT LAKE CITY, April 17 /PRNewswire/ -- Daw Technologies, Inc. (Nasdaq: DAWK), a leader in the design, engineering and installation of ultra-clean manufacturing environments, and a contract manufacturer, announced that it has received a Nasdaq Staff Determination letter dated April 11, 2001 indicating that the company fails to comply with the minimum bid price requirement for continued listing set forth in Marketplace Rule 4450(a)(5), and that its common stock is, therefore, subject to delisting from the Nasdaq National Market. The company has requested a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination. The company's common stock will continue to be listed on the Nasdaq National Market pending the conclusion of the appeal. It is anticipated that the appeal process will take approximately two months. As part of the appeal process, the company will prepare and present a plan for achieving and maintaining compliance with the minimum bid requirement for continued listing. The company intends to vigorously pursue its appeal and will carefully examine all available options. There can be no assurance that the Panel will grant the company's request for continued listing. If the Company's common stock is delisted from the Nasdaq National Market, the stock should nevertheless be eligible to be quoted on the OTC Bulletin Board. For further information, contact: B.J. Mendenhall, Chief Financial Officer, Daw Technologies, Inc., (801) 977-3100 SOURCE Daw Technologies, Inc.
Share this article