LONDON, June 14, 2011 /PRNewswire/ — MGT Capital Investments,
Inc. (NYSE Amex:
MGT), today announced that on June 8, 2011 it received notice
from the NYSE Amex (the “Exchange”) notifying the Company it is not
in compliance with following Exchange continued listing standards:
Section 1003(a)(i) of the Company Guide, resulting from
stockholders’ equity on March 31, 2011 of less than $2,000,000 and
losses from continuing operations and/or net losses in two of its
three most recent fiscal years; Section 1003(a)(ii) of the Company
Guide with stockholders’ equity of less than $4,000,000 and losses
from continuing operations and/or net losses in three of its four
most recent fiscal years; and Section 1003(a)(iii) with
stockholders’ equity of less than $6,000,000 and losses from
continuing operations and/or net losses in its five most recent
fiscal years.
As allowed by Exchange rules, the Company intends to submit a
plan of compliance by July 8, 2011 demonstrating its ability to
regain compliance with the listing standards within an 18 month
remediation period. If the plan is accepted, and periodic reviews
by the Exchange confirm progress consistent with the plan, the
Company will continue its listing during the 18-month plan period.
Otherwise, the Company will be subject to delisting procedures as
set forth in the Exchange Company Guide. The Company would have the
right to appeal any such determination. However, there is no
assurance of success throughout this process.
The Company’s stock trading symbol will remain MGT, but will
include a “.BC” appendage to denote its noncompliance. The trading
symbol will bear this additional indicator until the Company
regains its compliance with the NYSE Amex continued listing
requirements.
About MGT Capital Investments
MGT Capital Investments is a holding company with operations in
medical imaging. Its majority-o
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