Wednesday, May 25, 2011
Upon receipt of the company’s plan, the NYSE has 45 calendar days to review and determine whether the company has made a reasonable demonstration of its ability to come into conformity with the relevant standards within the 18-month period, or whether it will require the company to do so within a lesser time period.
The NYSE will either accept the plan, at which time it will specify the applicable time period within which the company has to come into compliance. Thereafter, the company will be subject to ongoing monitoring for compliance with this plan.
Alternatively, should the NYSE reject the plan, the company will be subject to suspension and delisting proceedings.
The company’s business operations, SEC reporting requirements and debt instruments are unaffected by the notification.
During any cure period, the company’s shares will continue to be listed and traded on the NYSE, subject to its compliance with other NYSE continued listing standards, and a “.BC” indicator will be affixed to the GBE ticker symbol.