Wednesday March 7, 1:22 pm Eastern Time
CORRECTED - Play-By-Play says stock may be delisted
In March 6, NEW YORK item headlined, ``Play-By-Play says stock may be delisted,'' please read in 5th paragraph ``Last month, the company said it would lay off 50 workers ...'' instead of ``Last month, the company said it would lay off 50 workers after that restructuring deal failed.'' (Correcting to delete reference to debt restructuring failing.)
A corrected repetition follows.
SAN ANTONIO, March 6 (Reuters) - Play-By-Play Toys & Novelties Inc. (NasdaqNM:PBYP - news), a maker of toys, novelties and consumer electronics, said on Tuesday it has been informed by the Nasdaq stock market its securities no longer meet minimum listing requirements.
Specifically, the company's stock has failed to maintain a minimum bid price of $1 for the required 30 consecutive days on the Nasdaq National Market.
The stock is subject to being delisting by Nasdaq, the company said in a statement.
Play-By-Play says it would appeal the Nasdaq decision.
Last month the company reached a definitive restructuring agreement with holders of certain convertible debentures. Last month, the company said it would lay off 50 workers.
Shares closed at 11/32 on Tuesday on the Nasdaq, off the 52-week high of $2-11/16, but up from the low of 1/8. |
