The Company is considered below criteria established by the NYSE's continued listing standards because its average global equity market capitalization fell below $50 million on a trailing 30 trading-day period, and because its stockholders' equity was below $50 million in its most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 14, 2013 for the period ending September 30, 2013.
The Company intends to notify the NYSE that it will submit a plan within 45 days from the receipt of the NYSE notice that demonstrates its ability to regain compliance within 18 months. Upon receipt of the plan, the NYSE has 45 calendar days to review and determine whether the Company has made a reasonable demonstration of its ability to come into conformity with the relevant standards within the 18 month period.
The NYSE will either accept the plan, at which time the Company will be subject to ongoing monitoring for compliance with this plan, or the NYSE will not accept the plan and the Company will be subject to suspension and delisting proceedings.
During the 18-month cure period, the Company's shares will continue to be listed and traded on the NYSE subject to its compliance with other NYSE continued listing standards. The Company will continue to work directly with the NYSE to make sure they are aware of the Company's plans and progress.
The Company's business operations and SEC reporting requirements are not affected by the receipt of the NYSE notification.
About GSE Holding, Inc.
GSE is a global manufacturer and marketer of geosynthetic lining solutions, products and services used in the containment and management of solids, liquids, and gases for organizations engaged in waste management, mining, water, wastewater and aquaculture.
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