Dover Motorsports, Inc. Regains Compliance with New York Stock Exchange Listing Standards
June 02 2009 - 3:54PM
Business Wire
Dover Motorsports, Inc. (NYSE:DVD) today announced receipt of
notice from the New York Stock Exchange (�NYSE�) informing the
Company that it is in compliance with revised NYSE standards for
continued listing. As previously announced, on February 20, 2009,
the Company was notified that it was below the NYSE�s continued
listing criteria because its average market capitalization over a
consecutive 30 trading-day period and total stockholders� equity
had fallen below the $75 million required. The Securities and
Exchange Commission has just approved the lowering of those
thresholds by the NYSE to $50 million. The Company currently
satisfies the revised listing standards and is in compliance with
other continued listing standards. The change in thresholds is
effective through October 30, 2009, but the NYSE has indicated that
it expects to seek a rule filing that will make the lower
thresholds permanent in the near future.
Dover Motorsports, Inc. (NYSE:DVD) is a leading promoter
of motorsports events in the United States. DVD subsidiaries
operate four tracks in three states, and present more than 400
motorsports events each year. This includes 14 major, national
events which include races sanctioned by NASCAR and NHRA. Dover
Motorsports, Inc. owns and operates Dover International Speedway in
Dover, Del., Gateway International Raceway near St. Louis, Mo.,
Memphis Motorsports Park in Memphis, Tenn., and Nashville
Superspeedway near Nashville, Tenn. For further information log on
to www.DoverMotorsports.com. This release may contain
forward-looking statements based on management�s beliefs and
assumptions. Such statements are subject to various risks and
uncertainties that could cause results to vary materially. Please
refer to the SEC filings of DVD for a discussion of such
factors.
Dover Motorsports (NYSE:DVD)
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