Dover Motorsports, Inc. Receives Notice from NYSE
November 09 2011 - 8:59AM
Business Wire
Dover Motorsports, Inc. (NYSE: DVD) announced that it has been
notified by the New York Stock Exchange (the “NYSE”) that it must
regain compliance with the NYSE’s continued listing standards for
total market capitalization and shareholders’ equity. The Company
is currently considered below criteria for the continued listing
standards because, as of November 1, 2011, its 30 trading-day
average market capitalization was $42.3 million, which was less
than the $50 million required, and its stockholders’ equity as of
September 30, 2011 was $40.9 million, also less than the $50
million required.
Under NYSE rules, the Company has until December 19, 2011 to
submit a plan to the NYSE to demonstrate its ability to achieve
compliance with the continued listing standards within 18 months.
The Company intends to submit such a plan. During this time the
Company’s common stock will continue to be listed on the NYSE,
subject to the Company’s compliance with other NYSE continued
listing requirements.
This release contains or may contain forward-looking statements
based on management’s beliefs and assumptions. Such statements are
subject to various risks and uncertainties which could cause
results to vary materially. Please refer to the Company’s SEC
filings for a discussion of such factors.
Dover Motorsports, Inc. (NYSE: DVD) is a leading promoter
of NASCAR sanctioned motorsports events whose subsidiaries own and
operate Dover International Speedway in Dover, Delaware and own
Nashville Superspeedway near Nashville, Tennessee. For further
information, log on to www.dovermotorsports.com.
Dover Motorsports (NYSE:DVD)
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