Thomas Group Announces Regained NASDAQ Compliance for Continued Listing
September 07 2010 - 4:15PM
Business Wire
Thomas Group, Inc. (NasdaqCM: TGISD) (the “Company”), a global
change management and operations improvement consulting firm, today
announced that The NASDAQ Stock Market (“NASDAQ”) notified the
Company that it has regained compliance with NASDAQ’s minimum $1.00
per share bid price requirement, and further, that the Company
currently meets the other applicable standards for continued
listing. Accordingly, the Company’s common stock will continue to
be listed on The NASDAQ Capital Market.
As previously announced, following a hearing before a NASDAQ
Listing Qualifications Panel (the “Panel”), the Panel determined to
continue the Company’s listing subject to the condition that, on or
before September 13, 2010, the Company must have evidenced a
closing bid price for its common stock of $1.00 per share or more
for at least the ten prior consecutive trading days, among other
things. For ten consecutive trading days, from August 23, 2010 to
September 3, 2010, the closing bid price of the Company’s common
stock exceeded the $1.00 per share threshold, and on September 3,
2010, the closing bid price was $1.70 per share. Accordingly, the
Company satisfied the Panel’s condition, and the delisting
proceeding is now closed.
The Company’s shares will continue to trade on NASDAQ under the
symbol “TGISD” until the close of trading on Tuesday, September 13,
2010, at which point the fifth character “D” will drop off and the
trading symbol will revert to “TGIS.” In accordance with NASDAQ
requirements, the fifth character “D” was added to the Company’s
trading symbol on August 16, 2010, to reflect the one-for-five
share reverse stock split of the Company’s common stock.
About Thomas Group
Thomas Group, Inc. (NasdaqCM: TGISD) is an international,
publicly-traded professional services firm specializing in
operational improvements. Thomas Group's unique brand of process
improvement and performance management services enable businesses
to enhance operations, improve productivity and quality, reduce
costs, generate cash and drive higher profitability. Known for
Breakthrough Process Performance, Thomas Group creates and
implements customized improvement strategies for sustained
performance improvements in all facets of the business enterprise.
Thomas Group has offices in Dallas, Boston and Washington, D.C. For
more information, please visit www.thomasgroup.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act:
Any statements in this release that are not strictly historical
statements, including statements about the Company’s beliefs and
expectations, are “forward-looking statements” within the meaning
of the United States Private Securities Litigation Reform Act of
1995. These forward-looking statements involve certain risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by these statements, including
general economic and business conditions that may impact clients
and the Company’s revenues, timing and awarding of customer
contracts, revenue recognition, competition and cost factors as
well as other factors detailed from time to time in the Company’s
filings with the Securities and Exchange Commission, including the
Company’s Form 10-K for the year ended December 31, 2009. These
forward-looking statements may be identified by words such as
“anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,”
“estimates,” “targets,” “projects,” “could,” “should,” “may,”
“would,” “continue,” “forecast,” and other similar expressions.
These forward-looking statements speak only as of the date of this
release. Except as required by law, the Company expressly disclaims
any obligation or undertaking to disseminate any updates or
revisions to any forward-looking statement contained herein to
reflect any change in the Company’s expectations with regard
thereto or any change in events, conditions or circumstances on
which any such statement is based.
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