Feeds

Be to appeal against Nasdaq de-listing

Just in case Palm deal falls through

  • alert
  • submit to reddit

Providing a secure and efficient Helpdesk

Alternative operating system vendor Be has been threatened with having its stock booted off Nasdaq.

Under the stock exchange's rules, if a company's shares fall below $1 for more than 30 consecutive trading days, the company risks being de-listed. It has 90 more days to get its shareprice back over $1 - or else.

And that's exactly what has happened to Be. Its 120 days are up and so its stock is set to be yanked from Nasdaq's listing.

Oddly enough, Be is planning to appeal against the decision. Since it plans to shut up shop just as soon as Palm's $11 million acquisition of its technology and other assets is done, what does it matter if it drops off Nasdaq?

One reason for the appeal is that it keeps Be on the Nasdaq list while its request is judged. While it's on the list, it's stock can still be traded - though clearly there's not very much demand for its shares at the moment - and directors' shareholdings continue to have a nominal value.

This is particularly true if the Palm deal doesn't happen, either because Palm pulls out - as it did with its proposed acquisition of Extended Systems - or Be's shareholders vote against the deal. Presumably Be fears they will nix the deal if Nasdaq delists the company. ®

Related Story

Palm buys Be

Providing a secure and efficient Helpdesk

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple's iPhone 6 first-day sales are MEANINGLESS, mutters analyst
Big weekend queues only represent fruity firm's supply
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Bill Gates, drugs and the internet: Top 10 Larry Ellison quotes
'I certainly never expected to become rich ... this is surreal'
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
EMC, HP blockbuster 'merger' shocker comes a cropper
Stand down, FTC... you can put your feet up for a bit
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.