The New York Stock Exchange has accepted a plan by Maui Land & Pineapple Company Inc. for its continued listing on the exchange, the company announced today.
Maui Land & Pine’s common stock will continue to be listed on the NYSE subject to quarterly reviews.
Exchange officials had notified the company in October that MLP had fallen below the NYSE’s continued listing standards, citing its average market capitalization at less than $50 million over a 30-trading-day period.
Exchange officials also noted that its most recently reported shareholders’ equity was less than $50 million.
MLP now has 18 months in which to comply with the average market capitalization standard, subject to compliance with other NYSE requirements.