WebMediaBrands Receives Nasdaq Notification Letter
September 17 2009 - 12:05PM
Business Wire
WebMediaBrands Inc. (Nasdaq: WEBM), an Internet media company
concentrating on BtoB communities, today announced that on
September 16, 2009, it received a notice from the Nasdaq Stock
Market indicating that it no longer complies with the requirements
of Nasdaq Marketplace Rule 5450(a)(1) for continued listing on the
Nasdaq Global Market. The rule requires that shares of
WebMediaBrands’s stock maintain a minimum bid price of $1.00 per
share.
WebMediaBrands has 180 calendar days, or until March 15, 2010,
in which to regain compliance with the listing requirement. If
WebMediaBrands does not regain compliance prior to the expiration
of the 180-day grace period, Nasdaq will provide written notice
that WebMediaBrands’s securities are subject to delisting.
Alternatively, WebMediaBrands may be eligible for an additional
180-day grace period if it meets the initial listing standards,
with the exception of bid price, for the Nasdaq Capital Market. To
avail itself of this option, WebMediaBrands will need to submit an
application to transfer its securities to the Nasdaq Capital
Market.
About WebMediaBrands Inc.
WebMediaBrands Inc. (Nasdaq: WEBM, www.webmediabrands.com),
headquartered in Darien, Connecticut, is an Internet media company
concentrating on BtoB communities. WebMediaBrands currently has
three online communities: Internet.com for IT managers and Web
developers; Mediabistro.com for media professionals and
Graphics.com for design and creative professionals. All three
communities offer job boards, marketplaces, online education
offerings and events.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995: Statements in this press release
that are not historical facts are "forward-looking statements"
under the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those described in the forward-looking
statements. The potential risks and uncertainties address a variety
of subjects including, for example: the continued listing of
WebMediaBrands’s securities on the Nasdaq Global Market; the
competitive environment in which WebMediaBrands competes; the
unpredictability of WebMediaBrands’s future revenues, expenses,
cash flows and stock price; and WebMediaBrands’s dependence on a
limited number of advertisers. For a more detailed
discussion of such risks and uncertainties, refer to
WebMediaBrands’s reports filed with the Securities and Exchange
Commission pursuant to the Securities Exchange Act of 1934. The
forward-looking statements included herein are made as of the date
of this press release, and WebMediaBrands assumes no obligation to
update the forward-looking statements after the date hereof, except
as required by law.
All current WebMediaBrands press releases can be found online
at www.webmediabrands.com/corporate/press.html
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