New York Stock Exchange Advises Tricom that Its Stock Has Fallen Below Minimum Listing Criterion
February 09 2004 - 5:37PM
PR Newswire (US)
New York Stock Exchange Advises Tricom that Its Stock Has Fallen
Below Minimum Listing Criterion SANTO DOMINGO, Dominican Republic,
Feb. 9 /PRNewswire-FirstCall/ -- Tricom, S.A. today announced that
it has been notified by the New York Stock Exchange (NYSE) that its
American Depository Receipts (ADRs) are below the criterion for
continued listing because the average closing price of its ADRs for
a consecutive 30-day period beginning October 21, 2003, was below
$1.00. Under NYSE guidelines, the Company must return its share
price and average share price back above $1.00 by six months
following receipt of the NYSE's notification. In the event that the
Company fails to return to compliance during this time period, the
NYSE has notified the Company that it will commence suspension and
delisting procedures for the Company's ADRs. In accordance with
NYSE rules, the Company has acknowledged to the NYSE receipt of
this notification and its intention to cure this deficiency. There
can be no assurance, however, that the Company will be able to do
so. The closing price for Tricom's ADRs on February 9, 2004 was
$1.64. About TRICOM Tricom, S.A. is a full-service communications
services provider in the Dominican Republic. We offer local, long
distance, mobile, cable television and broadband data transmission
and Internet services. Through Tricom USA, we are one of the few
Latin American based long distance carriers that are licensed by
the U.S. Federal Communications Commission to own and operate
switching facilities in the United States. Through our subsidiary,
TCN Dominicana, S.A., we are the largest cable television operator
in the Dominican Republic, based on our number of subscribers and
homes passed. We also offer digital mobile integrated services
including two-way radio and paging services in Panama using iDEN(R)
technology. For more information about Tricom, please visit
http://www.tricom.net/ . Cautionary Language Concerning
Forward-Looking Statements Statements in this press release that
are not strictly historical in nature are forward-looking
statements. These statements are only predictions based on current
information and expectations and involve a number of risks and
uncertainties. Actual events or results may differ materially due
to various factors. Factors which may cause actual results to
differ materially from those discussed herein include economic
considerations that could affect demand for telecommunications
services and the ability of the Company to make collections,
inflation, regulatory factors, legal proceedings, exchange controls
and occurrences in currency markets, competition, and the risk
factors set forth in the Company's various filings with the
Securities and Exchange Commission, including its more recently
filed Annual Report on Form 20-F. The Company undertakes no
obligation to revise these forward-looking statements to reflect
events or circumstances after the date hereof. For Further
Information Contact: Miguel Guerrero, Investor Relations Ph (809)
476-4044 / 4012 E-mail: For additional information, please visit
Tricom's Investor Relations website at
http://www.tdr-investor.com/, or contact our Investor Relations
department at the above numbers. DATASOURCE: Tricom, S.A. CONTACT:
Miguel Guerrero, Investor Relations, Tricom, S.A., +1-809-476-4044,
ext. 4012, or Web site: http://www.tricom.net/
http://www.tdr-investor.com/
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