Small appliance maker Applica Incorporated announced that it has been notified by the New York Stock Exchange (NYSE) that it is not in compliance with the NYSE's continued listing standards.
Applica is considered "below criteria" by the NYSE because over a consecutive 30-day trading period, its total market capitalization and its shareholders' equity were each less than U.S. $75 million.
While Applica was in full compliance with the previous continued listing standards set forth by the Exchange, the NYSE recently adopted new continued listing standards with which Applica is not currently in compliance.
In accordance with the continued listing criteria set forth by the NYSE, Applica said that it intends to present a plan to the NYSE within the required 45-day timeframe demonstrating how it intends to comply with the continued listing standards.
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