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Wellman to leave NYSE
05 Dec '07
1 min read
The New York Stock Exchange (NYSE) has determined that it will suspend trading of Wellman Inc's common stock, ticker symbol WLM, prior to the market opening on December 10, 2007 and that it will commence procedures to delist Wellman's common stock.
The decision was reached after the average closing price of Wellman's common stock for a consecutive 30-day trading period was lower than $1.00, which is the NYSE's minimum share price listing standard and because the market capitalization of the Company's common stock was below $25 million. The Company's share price closed at $.38 on December 3, 2007.
Wellman has decided not to appeal the decision and expects to be traded on the over-the-counter markets. The Company will remain a reporting company for SEC purposes and will continue to comply with all reporting requirements. This decision should not impact the financial status of the Company or affect the way it conducts its business.
The decision was reached after the average closing price of Wellman's common stock for a consecutive 30-day trading period was lower than $1.00, which is the NYSE's minimum share price listing standard and because the market capitalization of the Company's common stock was below $25 million. The Company's share price closed at $.38 on December 3, 2007.
Wellman has decided not to appeal the decision and expects to be traded on the over-the-counter markets. The Company will remain a reporting company for SEC purposes and will continue to comply with all reporting requirements. This decision should not impact the financial status of the Company or affect the way it conducts its business.
Wellman Inc
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