BUCA, Inc. Receives Nasdaq Staff Determination Regarding Minimum Bid Price
11 August 2008 - 10:05PM
Business Wire
BUCA, Inc. (NASDAQ: BUCA) announced today that it received a Nasdaq
Staff Determination (the �Staff Determination�) on August 7, 2008
indicating that the company is not in compliance with the $1.00
minimum bid price requirement for continued listing set forth in
Nasdaq Marketplace Rule 4450(a)(5), and that the company's
securities are, therefore, subject to delisting from The Nasdaq
Global Market. Accordingly, unless the company requests a hearing
to appeal the Staff Determination before a Nasdaq Listing
Qualifications Panel (the �Panel�), the Staff Determination states
that trading of the Company's common stock will be suspended at the
opening of business on August 18, 2008 and the company's securities
will be delisted from The Nasdaq Stock Market. The company intends
to request such a hearing before the Panel. Submission of a hearing
request not later than 4:00 p.m. Eastern Time on August 14, 2008
will stay the suspension of trading of the company's common stock
and the delisting of the company's securities pending the Panel's
decision. There can be no assurance that the Panel will grant the
company's request for continued listing. About BUCA, Inc. BUCA,
Inc. owns and operates 88 highly acclaimed Italian restaurants
under the name Buca di Beppo in 25 states and the District of
Columbia.
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