Feb 4, 2009
Todd Shipyards keeps NYSE listing
Todd Shipyards Corporation (NYSE:TOD) announced today that the New York Stock Exchange has notified the company that it has accepted the company's proposal for continued listing on the NYSE. As a result of its acceptance, the company's common stock will continue to be listed on the NYSE pending quarterly reviews by the NYSE's Listing and Compliance Committee to monitor progress against the proposal.
As previously announced in a press release and Form 8-K filed on November 6, 2008, Todd was notified by the NYSE that it is no longer in compliance with the NYSE's continued listing standards. Todd is considered below criteria since the company's market capitalization was less than the required $75 million over a 30 trading-day period and its shareholders' equity was less than $75 million