Liberty Satellite & Technology Announces Withdrawal of Application for Listing
On Nasdaq National Market
ENGLEWOOD, Colo., Feb. 21 /PRNewswire/ -- Liberty Satellite & Technology, Inc. (OTC Bulletin Board: LSATA, LSATB) announced today that it has withdrawn its application for inclusion in the National Market tier of the Nasdaq Stock Market. The application has been on file since August 11, 2000. The closing bid price of the Company's Series A Common Stock has been below $5.00 per share since November 20, 2000. Nasdaq requires a minimum bid price of $5.00 per share for initial inclusion in the Nasdaq National Market.
Liberty Satellite & Technology, Inc. has two series of common stock outstanding, the Series A Common Stock (LSATA) and the Series B Common Stock (LSATB). Both series are currently quoted on the OTC Bulletin Board, an electronic quotation service operated by the National Association of Securities Dealers, Inc. for securities that are not listed on Nasdaq or the New York or American stock exchanges. In addition to falling below the minimum bid price requirement for the Nasdaq National Market, the Company's Series B Common Stock is currently held by fewer than the 300-round lot shareholders required by Nasdaq for initial listing.
The Company noted that today's action would not preclude it from reapplying to Nasdaq, if its stock met the quantitative requirements for inclusion.
LSAT is headquartered in Englewood, Colorado. Liberty Satellite & Technology, Inc. Series A and Series B Common Stock trade on the OTC Bulletin Board under the symbols LSATA and LSATB respectively. SOURCE Liberty Satellite & Technology, Inc.
/CONTACT: Mark Burton of Liberty Satellite & Technology, Inc., 303-268-5457, ir@lsata.com/
(LSATA LSATB) CO: Liberty Satellite & Technology, Inc. ST: Colorado IN: TLS OTC SU:
(END) DOW JONES NEWS 02-21-01
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