YRC announces its plan to avoid stock's delisting

Trucking company YRC Worldwide says that it plans to request a hearing with NASDAQ exchange executives if it gets, as it expects, a notice saying its stock will be delisted.

The NASDAQ earlier this year warned the Overland Park, Kan.-based company that its stock was in danger of being delisted because its share price had fallen too low — less than $1 per share for 30 consecutive business days.

YRC was given 180 days, until Aug. 30, to meet the listing standards. But share prices have not risen above $1 per share. The company is the parent of the former Akron-based Roadway Corp.

YRC directors have authorized a 5-1 to 25-1 reverse stock split that would bring the per-share price above $1. The split can be done by Feb. 17.

''We would intend to request a hearing with NASDAQ to present a plan of compliance,'' YRC stated in its third-quarter 10-Q filing with the Securities and Exchange Commission. ''The request for a hearing will stay the delisting of our common stock.''

The company said it expects a hearing would be scheduled 30 to 45 days after the exchange receives its hearing request. YRC said it cannot assure stockholders that the NASDAQ will grant an extension.