MSC.Software Announces the Initiation of Suspension Procedures by the New York Stock Exchange
08 Februar 2005 - 10:26PM
PR Newswire (US)
MSC.Software Announces the Initiation of Suspension Procedures by
the New York Stock Exchange SANTA ANA, Calif., Feb. 8
/PRNewswire-FirstCall/ -- MSC.Software Corp. (NYSE:MNS) today
announced that the New York Stock Exchange (the "Exchange") has
informed the Company that, because of the ongoing delay in the
filing of its annual report on Form 10-K with the Securities and
Exchange Commission ("SEC") for the fiscal year ended December 31,
2003, the Exchange will suspend trading in MSC.Software's stock on
the NYSE before the opening of the market on March 11, 2005. After
the suspension, the Company anticipates that its stock will trade
on the Pink Sheets electronic quotation system. The Exchange also
stated that trading could be suspended earlier if there is a
material adverse development. As reported in a press release on
January 4, 2005, the Exchange has been reviewing the Company's
continued listing status because of the Company's failure to file
its Annual Report on Form 10-K for the year ended December 31,
2003. The Exchange's policy as it pertains to the monitoring of
late Form 10-K filers has been to initiate suspension procedures if
a company has not filed its Annual Report on Form 10-K with the SEC
within nine months after its due date. The Exchange's policy also
allows for it to consider up to a three-month extension if
warranted, subject to certain conditions. Because the Company is
not expected to meet the March 31, 2005 deadline imposed by the
Exchange, the Exchange has moved forward with the initiation of
suspension procedures. "We are disappointed that we may not be able
to complete the filing within the Exchange's three-month extension
period," said Frank Perna, chairman and CEO, MSC.Software. "Our
suspension from the NYSE in no way reflects a lack of financial
viability of the Company. We are confident that when the
restatements are finalized and we complete our SEC filings, the
market will see that MSC.Software's business is strong and growing.
Our market leadership position continues to be supported by our
global product offering, our dedicated workforce and a strong cash
position on the balance sheet." About MSC.Software Corporation
MSC.Software (NYSE:MNS) is the leading global provider of virtual
product development (VPD) products including simulation software
and services that help companies make money, save time and reduce
costs associated with designing and testing manufactured products.
MSC.Software works with thousands of companies in hundreds of
industries to develop better products faster by utilizing
information technology, software and services. MSC.Software employs
more than 1300 people in 22 countries. For additional information
about MSC.Software's products and services, please visit
http://www.mscsoftware.com/. DATASOURCE: MSC.Software Corp.
CONTACT: investors, Joanne Keates, Vice President, Investor
Relations, +1-714-444-8551, , or media, Todd Evans, Corporate
Communications, +1-714-445-3066, , both of MSC.Software Corp. Web
site: http://www.mscsoftware.com/
Copyright
Msc.Software (NYSE:MNS)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Msc.Software (NYSE:MNS)
Historical Stock Chart
Von Sep 2023 bis Sep 2024
Echtzeit-Nachrichten über Msc.Software Corp (New York Börse): 0 Nachrichtenartikel
Weitere Msc Softward Cp News-Artikel