Small appliance maker Applica Incorporated announced that in accordance with the continued listing criteria set forth by the New York Stock Exchange (NYSE), on Sept. 26, 2005, it presented a plan to the NYSE demonstrating how it intends to comply with the continued listing standards.
Applica previously announced it was notified by the NYSE that it was considered "below criteria" because its total market capitalization and its shareholders' equity were each less than U.S. $75 million during a consecutive 30-day trading period.
In accordance with the continued listing criteria, the NYSE has up to 45 days to accept or reject the plan. In the event that the NYSE does not accept the plan, Applica would seek an alternate trading market for its common stock.
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