Maui Land & Pineapple has been notified that the company is not in compliance with the New York Stock Exchange’s continued listing standards, the company said Friday.
The company was notified that it is in non-compliance because its market capitalization was less than $50 million over a 30-day trading period, and because its shareholder equity was less than $50 million.
ML&P (NYSE: MLP) has 45 days from the receipt of the notification to submit a plan to the stock exchange that would demonstrate its ability to remain in compliance with the listing standards within 18 months, something the company said it intends to do.
ML&P’s stock will continue to be listed on the NYSE, subject to other continued listing standards.
ML&P closed at $3.98 on Friday, up 9 cents from the previous day
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