The Ashton Technology Group Receives Nasdaq Delisting Notice
PHILADELPHIA--(BUSINESS WIRE)--Aug. 31, 2001--The Ashton Technology Group, Inc. (NASDAQ:ASTN - news) announced today that it received a Nasdaq Staff Determination dated August 27, 2001, indicating that its securities are subject to delisting from The Nasdaq National Market effective September 5, 2001.
Ashton has decided to appeal Nasdaq's decision. Ashton's securities will be delisted for failing to meet the minimum net tangible assets, minimum shareholders' equity and minimum bid price requirements for continued listing on The Nasdaq National Market, as set forth in Rule 4450(a)(3) under the Nasdaq Marketplace Rules.
Ashton's request for an appeal will suspend the delisting process pending a decision by the Nasdaq Listing Qualifications Panel.
Ashton is an eCommerce company that develops and operates electronic trading and intelligent matching systems for the global financial securities industry. Our focus is to develop and operate alternative trading systems, serving the needs of exchanges, institutional investors and broker-dealers in the U.S. and internationally.
Our goal is to enable these market participants to trade in an electronic global trading environment that provides large order size, absolute anonymity, no market impact and lower transaction fees.
The forgoing press release contains forward-looking statements based on current management expectations. A variety of important factors could cause results to differ materially from such statements.
Factors and other risks that could cause actual results to differ from current expectations are described in greater detail in Ashton's filings with the Securities and Exchange Commission, including those on forms 10-K and 10-Q.
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Contact:
Ashton Technology Group, Inc., Philadelphia
Christine Geisser, 215/789-3300
Telefax: 215/789-3397
Websites: www.ashtontechgroup.com and www.evwap.com.
Shareholder email: shquestions@ashtontechgroup.com |
