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Xenonics To Appeal Delisting of The Company’s Securities
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Xenonics
: 02 August, 2010 (Company News) |
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Xenonics has been served de-listing notification from the NYSE Amex list which the company intends to appeal against |
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Xenonics Holdings has received notice from the NYSE Amex that the Company failed to regain compliance with continued listing standards and, accordingly, the Company's securities are subject to delisting proceedings. Specifically, Xenonics is not in compliance with Section 1003(a)(iii) of the Company Guide because it has shareholders' equity of less than $6,000,000.
In accordance with Sections 1203 and 1009(d) of the Company Guide, Xenonics has the right to appeal the Staff Determination by requesting a hearing before a Listing Qualifications Panel. The Company plans to exercise this right, and expects the hearing to occur within the next 45 to 60 days. In the meantime, the Company's securities will continue to be listed on the NYSE Amex.
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