Hypercom Receives Notice from the NYSE on Continued Listing Standard
SCOTTSDALE. – Hypercom Corporation (NYSE: HYC) announced today that on December 31, 2008 it received a notice of non-compliance from NYSE Regulation advising that Hypercom has fallen below one of the New York Stock Exchange (“NYSE”) continued listing standards regarding price criteria for its common stock as a result of the company’s common stock having an average closing price of less than US$1.00 per share during a consecutive 30-trading-day period.
Under the NYSE rules, the company has six months from the date of receipt of the notice to bring its common stock price and average common stock price back above US$1.00. During the interim, Hypercom’s common stock will remain listed on the NYSE, subject to compliance with other applicable NYSE continued listing requirements. If the closing price and average closing price of its common stock do not sufficiently improve, Hypercom may consider presenting a proposal to its shareholders for a consolidation of its outstanding common stock at its next annual meeting of stockholders. In the event that at the expiration of the six-month cure period, both a $1.00 share price and a $1.00 average share price over the preceding 30 trading days are not attained, NYSE Regulation will commence suspension and delisting procedures. As of December 31, 2008, the closing price of Hypercom common stock on the NYSE was $1.08.
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