RMK Multi-Sector High Income Fund, Inc. Notified by NYSE of Non-Compliance with Continued Listing Standards
07 Oktober 2008 - 10:15PM
Marketwired
RMK Multi-Sector High Income Fund, Inc. (the "Fund") (NYSE: RHY)
today announced that on October 2, 2008 the Fund received a letter
from the New York Stock Exchange ("NYSE") advising it that the Fund
is not in compliance with the NYSE's continued listing standard
related to maintaining a consecutive thirty day average closing
stock price of over $1.00 per share.
On October 2, 2008, the Fund's thirty day average closing stock
price was $0.90. Under NYSE rules, the Fund has six months from the
date of the NYSE notice to cure the average price deficiency,
during which time the Fund's shares of common stock will continue
to be listed and traded on the NYSE. If these conditions are not
met during the six-month cure period, NYSE Regulation indicated
that it will commence suspension and delisting procedures. On
October 7, 2008, the Fund notified the NYSE within the required 10
business day period following the receipt of the notification that
the Fund intends to cure the price deficiency.
Forward-Looking Information
This news release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements that are based on various
assumptions (some of which are beyond our control) may be
identified by reference to a future period or periods or by the use
of forward-looking terminology, such as "may," "will," "believe,"
"expect," "anticipate," "continue," "should," "intend," or similar
terms or variations on those terms or the negative of those terms.
Although we believe that the expectations contained in any
forward-looking statement are based on reasonable assumptions, we
can give no assurance that our expectations will be attained. We do
not undertake, and specifically disclaim any obligation, to
publicly release any update or supplement to any forward-looking
statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such
statements.
RMK Multi-Sector High Income Fund, Inc. is managed by Hyperion
Brookfield Asset Management, Inc, a registered investment advisor
located in New York City. The firm was founded in 1989 to provide
relative value driven fixed income investment strategies, such as
core fixed income, high yield, and specialized MBS. Hyperion
Brookfield manages approximately $22 billion for a client base
including pension funds, financial institutions, mutual funds,
insurance companies and foundations. Hyperion Brookfield is a
subsidiary of Brookfield Asset Management, Inc., a global asset
manager focused on property, power and other infrastructure assets
with approximately US$95 billion of assets under management. For
more information, please visit our website at
www.hyperionbrookfield.com.
Contacts: RMK Multi-Sector High Income Fund, Inc. Three World
Financial Center 200 Vesey Street, 10th Floor New York, NY,
10281-1010 1-800-HYPERION
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