Global Consumer Acquisition Corp.'s Compliance Plan Accepted by New York Stock Exchange
May 13 2009 - 12:34PM
PR Newswire (US)
NEW YORK, May 13 /PRNewswire-FirstCall/ -- Global Consumer
Acquisition Corp. (NYSE Amex LLC: GHC, GHC.U, GHC.WS) (the
"Company") announced today that the NYSE Amex LLC (the "Exchange")
has accepted the Company's proposed plan of compliance for
continued listing on the Exchange (the "Compliance Plan"). As
previously announced on February 20, 2009, the Company was notified
by the Exchange that it had failed to comply with the annual
stockholder meeting requirements of Section 704 of the NYSE Amex
Company Guide. The Company was afforded the opportunity to submit a
plan of compliance to the Exchange and on March 3, 2009 presented
its Compliance Plan to the Exchange. On May 11, 2009 the Exchange
notified the Company that it accepted the Company's Compliance Plan
and granted the Company an extension until August 11, 2009 (the
"Plan Period") to regain compliance with the continued listing
standards. The Company filed its proxy statement in connection with
its Annual Meeting of Stockholders on April 28, 2009 and has
scheduled its Annual Meeting of Stockholders for May 28, 2009. The
Company expects to regain compliance within the Plan Period. The
Company will be subject to periodic review by Exchange staff during
the Plan Period. Failure to make progress consistent with the
Compliance Plan or to regain compliance with the continued listing
standards by the end of the Plan Period could result in the Company
being delisted from the Exchange. About Global Consumer Acquisition
Corp. Global Consumer Acquisition Corp. is a blank check company
organized for the purpose of effecting a merger, capital stock
exchange, asset or stock acquisition, exchangeable share
transaction, joint venture or other similar business combination
with one or more domestic or international operating businesses.
Forward-Looking Statements This press release may contain
forward-looking statements within the meaning of the federal
securities laws. These forward-looking statements inherently
involve risks and uncertainties that are detailed in the Company's
prospectus and other filings with the Securities and Exchange
Commission and, therefore, actual results could differ materially
from those projected in the forward-looking statements. The Company
assumes no obligation to update publicly or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Company Contact: Andrew Nelson Chief
Financial Officer Global Consumer Acquisition Corp. (212) 445-7800
DATASOURCE: Global Consumer Acquisition Corp. CONTACT: Andrew
Nelson, Chief Financial Officer of Global Consumer Acquisition
Corp., +1-212-445-7800
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