Tasty Baking Company Files Business Plan to Meet Increased New York Stock Exchange Minimum Continued Listing Criteria
15 Septembre 2005 - 10:30PM
Business Wire
Tasty Baking Company (NYSE:TBC) announced today that it has filed
timely its required business plan with the New York Stock Exchange
("NYSE") that outlines how the company intends to achieve
compliance with the NYSE's recently increased continued listing
criteria. The NYSE will review the plan to determine if the NYSE
believes the plan will result in the company's compliance within 18
months. As previously disclosed in a press release and Form 8-K
dated July 28, 2005, the NYSE announced in June 2005 that it has
changed certain continued listing criteria, including increased
requirements for market capitalization and shareholders' equity.
Based on an initial assessment period ending July 29, 2005, Tasty
Baking Company received notice from the NYSE on August 1, 2005,
that the company is currently below the increased continued listing
standard, as disclosed on Form 8-K dated August 4, 2005. If the
NYSE accepts the business plan, the company will continue to be
listed on the NYSE during the 18 month period, pending quarterly
reviews by the NYSE for compliance with the business plan. If the
Company should be informed by the NYSE that the submitted plan was
not accepted, the company is prepared to pursue an alternative
national trading market for its common stock. The NYSE has up to 45
days to review the company's submitted business plan and inform the
company of its decision. ABOUT TASTY BAKING COMPANY Tasty Baking
Company (NYSE:TBC), founded in 1914 and headquartered in
Philadelphia, Pennsylvania, is one of the country's leading bakers
of snack cakes, pies, cookies, and donuts with manufacturing
facilities in Philadelphia and Oxford, Pennsylvania. Tasty Baking
Company offers more than 100 products under the Tastykake brand
name. For more information on Tasty Baking Company, visit
www.tastykake.com. In addition, consumers can send Tastykake
products throughout the United States from the company's website or
by calling 1-800-33-TASTY. "Safe Harbor Statement" Under the
Private Securities Litigation Reform Act of 1995 Except for
historical information contained herein, the matters discussed
herein are forward-looking statements (as such term is defined in
the Securities Act of 1933, as amended) that are subject to risks
and uncertainties that could cause actual results to differ
materially. There are a number of factors that may cause actual
results to differ from these forward-looking statements, including
general economic and business conditions. Other risks and
uncertainties that may materially affect the company are provided
in the company's annual reports to shareholders and the company's
periodic reports filed with the Securities and Exchange Commission
from time to time, including reports on Forms 10-K and 10-Q. Please
refer to these documents for a more thorough description of these
and other risk factors.
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