VIA NET.WORKS, Inc. today announced that it received a letter from the Nasdaq Stock Market granting the company a second 180-day extension, to June 10, 2005, to regain compliance with Nasdaq’s minimum bid price requirement.
In granting the extension, Nasdaq noted that VIA meets all other Nasdaq SmallCap Market listing standards.
On June 15, 2004, Nasdaq informed VIA that it had failed to meet Nasdaq’s continued listing requirement because its common stock had not traded above $1.00 per share for the previous 30 consecutive business days. The first 180- day extension stipulated that the share price must close at or above $1.00 per share for at least 10 consecutive trading days prior to the December expiration period. The new extension stipulates that the share price must close at or above $1.00 per share for at least 10 consecutive trading days prior to June 10, 2005.