RedEnvelope, Inc. Announces Receipt of Nasdaq Delisting Letter
April 09 2008 - 4:05PM
PR Newswire (US)
SAN FRANCISCO, April 9 /PRNewswire-FirstCall/ -- RedEnvelope, Inc.
(NASDAQ:REDE) today announced that on April 2, 2008, it received a
Nasdaq Staff Deficiency Letter (the "Letter") stating that Nasdaq
had previously notified the Company that if it had not held an
annual meeting of stockholders by April 1, 2008 the Company's
common stock would be subject to delisting. The Letter notes that
the Company is not in compliance with the requirements for
continued listing on the Nasdaq Capital Market set forth in
Marketplace Rules 4350(e) and 4350(g). The Company is considering
whether to appeal this determination and possible delisting
pursuant to the procedures set forth in the Nasdaq Market Place
Rule 4800 Series. However, there can be no assurances that the
Company's appeal, if made, will be acceptable to Nasdaq. If the
Company's appeal is not successful, or if an appeal is not timely
made, its common stock may be delisted from the Nasdaq Capital
Market. About RedEnvelope, Inc. RedEnvelope, Inc. is a retailer
dedicated to inspiring people to celebrate their relationships
through giving. RedEnvelope offers an extensive collection of
imaginative gifts through its webstore,
http://www.redenvelope.com/. "RedEnvelope" is a registered
trademark of RedEnvelope, Inc. Investor Contact: Andrew
Greenebaum/Christine Lumpkins ICR, Inc. ; (310) 954-1100
DATASOURCE: RedEnvelope, Inc. CONTACT: Andrew Greenebaum, , or
Christine Lumpkins, , both of ICR, Inc., +1-310-954-1100, for
RedEnvelope, Inc. Web site: http://www.redenvelope.com/
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