Bombay Prepares for Shares to be Quoted on the OTC Bulletin Board Following NYSE Delisting Action
26 Juin 2007 - 12:11AM
PR Newswire (US)
FORT WORTH, Texas, June 25 /PRNewswire-FirstCall/ -- The Bombay
Company, Inc. (NYSE:BBA) announced today that it has been notified
by the New York Stock Exchange ("NYSE") that the NYSE intends to
suspend Bombay's common stock prior to the opening on June 28,
2007, and that the NYSE will thereafter initiate delisting
procedures. The action is being taken in view of the fact that the
Company did not meet the New York Stock Exchange continued listing
standard regarding the average closing price of its common stock of
not less than $1.00 over a consecutive 30 trading day period, as
well as the requirement for average global market capitalization
over a consecutive 30 trading day period of not less than $75
million and stockholders' equity of not less than $75 million. On
May 24, 2007 the Company disclosed it had received notices from the
NYSE that it was not in compliance with the NYSE continued listing
requirements. (Logo:
http://www.newscom.com/cgi-bin/prnh/20051026/BOMBAYLOGO) The
Company expects to continue to be actively traded and has taken
steps to arrange for its common stock to be quoted on the OTC
Bulletin Board. Although electronic trading on the NYSE of the
Company's common stock ceased in April 2007, trading has been
active since that time on secondary markets. The Company will
continue to make all required SEC filings and disclosures and will
continue to communicate with its shareholders as a public company.
The NYSE's application to the Securities and Exchange Commission to
delist the issue is pending the completion of applicable
procedures, including any appeal by the Company of the NYSE
Regulation staff's decision. The Company does not intend to request
a review of the NYSE's determination. The Bombay Company, Inc.
designs, sources and markets a unique line of home accessories,
wall decor and furniture through 405 retail outlets and over the
Internet in the U.S. and internationally. Any statements in this
press release that may be considered forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ materially. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Those risks are described in the Company's public
announcements, reports to stockholders and SEC filings, including
but not limited to Reports on Forms 10-K, 8-K and 10-Q, copies of
which are available from the SEC or may be obtained upon request
from the Company. The Company undertakes no obligation to revise
the forward-looking statements contained herein to reflect events
or circumstances after the date hereof as a result of new
information, future events or otherwise.
http://www.newscom.com/cgi-bin/prnh/20051026/BOMBAYLOGO
http://photoarchive.ap.org/ DATASOURCE: The Bombay Company, Inc.
CONTACT: Elaine D. Crowley, Sr. Vice President, Chief Financial
Officer of The Bombay Company, Inc., +1-817-347-8200 Web site:
http://www.bombaycompany.com/
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