OCTOBER 6, 2003
CART warned about share price by NYSE
The New York Stock Exchange has officially warned CART about its poor share price because the company has fallen below the NYSE's listing requirements as its average market capitalization has been less than $15m for more than 30 trading days and its share price has been under a dollar for the same period.
The Company must notify the NYSE on or prior to October 14 of its plans to fix the problem or face suspension and delisting procedures. If no plan is forthcoming the firm will be automatically suspended from the NYSE by the Securities and Exchange Commission.
The only apparent hope now is that the deal with Open Wheel Racing will be voted through by the CART shareholders.
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