WebMediaBrands Receives Nasdaq Notification Letter
August 10 2010 - 1:25PM
Business Wire
WebMediaBrands Inc. (Nasdaq: WEBM), an Internet media company
that provides content, education, trade shows and online job board
services to media and business professionals, today announced that
on August 6, 2010, 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 February 2, 2011,
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), is
an Internet media company that provides content, education, trade
shows and online job board services to media and business
professionals.
"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 risk of illiquidity if our
stock is delisted; general economic conditions; the competitive
environment in which WebMediaBrands competes; and the
unpredictability of WebMediaBrands's future revenues, expenses,
cash flows and stock prices. 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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