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Latest Satellite News Discussion, New Worldspace removed from Nasdaq at General Satellite News forum; Worldspace removed from Nasdaq Worldspace will be removed from the Nasdaq stock market listings on Oct 30. Nasdaq rules state ...

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New Worldspace removed from Nasdaq - 29-October-2008, 10:40

Worldspace removed from Nasdaq

Worldspace will be removed from the Nasdaq stock market listings on Oct 30.

Nasdaq rules state that if a company's market value is below $50m for 10 successive trading days then it can be considered for delisting. There is also a requirement that a company's total assets and trading revenues must each meet or exceed $50m for the most recent trading year, or two out of the last three trading years.

At the close of business on Monday Worldspace's market capitalisation was $8.5m. Worldspace is in Chapter 11 bankruptcy protection. Worldspace says it does not intend to appeal the decision.
   
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