Great Florida Bank Receives NASDAQ Minimum Bid Price Noncompliance Notice Jan 12, 2010 3:18:00 PM 2010 GlobeNewswire, Inc. Email Story Discuss on ZenoBank
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MIAMI LAKES, Fla., Jan. 12, 2010 (GLOBE NEWSWIRE) -- Great Florida Bank (Nasdaq:GFLB), today announced it has received an advisory letter from the Nasdaq Stock Market ("NASDAQ"). The letter indicates that based upon the closing bid price for the Bank's common stock for the last 30 consecutive business days, Great Florida Bank no longer meets the $1.00 minimum bid price requirement of listing rule 5450(a)(1) for continued listing on the NASDAQ Global Market. However, as stipulated by rule 5810(c) (3) (A), the Bank has a 180 calendar day grace period (July 6, 2010 expiration date) in which to regain compliance. If at any time during the grace period the bid price of the Bank's common stock trades above the minimum bid price requirement for a minimum of ten consecutive business days, the Bank will regain compliance.
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