Jul, 2003 : VIA NET.WORKS Says Delisting Matter Closed

📅 July 18, 2003 - VIA NET.WORKS, Inc. (vianetworks.com) announced today that the potential delisting of the company's stock will not take place after it received notification from Nasdaq that the company is now in compliance with the Nasdaq SmallCap Market's listing requirements after trading at or above the minimum closing bid price requirement for more than ten consecutive trading days.

VIA held an Annual Shareholders' Meeting in May 2003, during which it received shareholder approval to effect a reverse split of the company's stock. The primary reason for seeking approval was to regain compliance with the minimum bid price requirement of the Nasdaq SmallCap Market. With the listing requirements met, the company confirmed that it has abandoned plans to undertake a reverse split in the near term.
"Regaining compliance with the Nasdaq SmallCap listing requirements is a significant event for VIA," said Rhett Williams, CEO of VIA NET.WORKS. "It means we are not forced to carry out a reverse split and we can continue to draw the full benefits of our Nasdaq listing. As VIA is virtually debt free and on the path to achieving profitability during 2004, I believe today's news will give added encouragement to our shareholders, employees, customers and business partners."
VIA NET.WORKS is a provider of business communication solutions to small and medium-sized businesses in the United States and Europe.

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