Wednesday, September 08, 2010

YRC Worldwide To Appeal Delisting From Nasdaq Stock Market

YRC Worldwide Inc. has a month to prepare after an appeal after being told it faces delisting from the Nasdaq Stock Market, the company said Tuesday.

The U.S. trucking group faces an appeal hearing on Oct. 7 and continues to evaluate the timing and size of a reverse stock split to push its share price above $1, in accordance with exchange rules.

The company's liquidity problems have seen its shares trade below the $1 required for listing since Jan. 15, falling as low as 10 cents and closing Tuesday at 27 cents. YRC Worldwide said the delisting is stayed until the Nasdaq appeals panel makes its decision, expected 30 to 45 days after the Oct. 7 meeting.

The company previously has said the planned reverse split will range from 1:25 to 1:5.

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