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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: TraderGreg who wrote (17967)5/18/1998 6:59:00 PM
From: Little Engine  Read Replies (1) of 27968
 
Greg, the Nasdaq rules would seem to indicate otherwise... Rule 4330(f) makes no distinction as to "who acquires who" in a merger. As written:

<<<<(f) Securities issued in connection with the merger, consolidation, or other type of acquisition of at least one issuer of qualifying securities shall be promptly included in Nasdaq, provided that the conditions of Rule 4310(c) or Rule 4320(e) for securities that have already been included are satisfied. Nasdaq shall require a Nasdaq SmallCap Market issuer to comply with all applicable requirements for initial inclusion under this Rule 4300 Series and shall require a Nasdaq National Market issuer to comply with all applicable requirements for initial inclusion under the Rule 4300 Series and Rule 4400 Series in the event that such issuer enters into a merger, consolidation, or other type of acquisition with a non-Nasdaq entity (including domestic and foreign corporations and limited partnerships), which results in a change of control and either a change in business or change in the financial structure of the Nasdaq SmallCap Market or Nasdaq National Market issuer.>>>>>

I would think that all principals vacating the company would result in a "change of control" as noted above(in addition, a "change in business" -- vacuums to temp staffing.... and "change of financial structure" with FAMH gaining the majority of shares in a merger).

Anyway, a Nasdaq employee told me that is how it would work, and pointed me toward this rule.

How do you read it?
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