4Kids receives NYSE notice - Licensing.biz

4Kids receives NYSE notice

Firm not in compliance with one of continued listing standards of the New York Stock Exchange.
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4Kids Entertainment has announced that it has been notified by NYSE Regulation that it is not in compliance with one of the continued listing standards of the New York Stock Exchange.

4Kids is considered below criteria for the continued listing standards because over a 30 trading day period its total market capitalisation was less than $75 million, and its most recently reported stockholders' equity was $74.99 million, below the minimum threshold of $75m.

In accordance with the NYSE's continued listing criteria, 4Kids intends to submit a plan to the NYSE within the required 45-day period, demonstrating how it plans to comply with the NYSE's continued listing standards.

If, over a 30 trading day period, the company's average market capitalisation falls below the $15 million minimum threshold, the plan and cure process otherwise available under NYSE rules would be pre-empted and suspension and delisting procedures would be initiated.

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