Centerline Holding Co., the parent company of Centerline Capital Group, says the New York Stock Exchange (NYSE) has delivered a written notice to Centerline announcing that trading of the common shares of Centerline would be suspended prior to the market's opening on Dec. 8.
The NYSE is delisting the Centerline common shares because Centerline did not maintain a market capitalization of at least $25 million over a consecutive 30-trading-day period as required by NYSE listing standards. Centerline will not appeal the NYSE's determination.
Centerline common shares will commence trading over-the-counter (OTC) market on the Pink Quotes. The company adds that is also taking appropriate steps to be quoted on the OTC Bulletin Board.
Source: Centerline Holding Co.