Maui Land & Pineapple Company, Inc. (NYSE:MLP) announced today that the New York Stock Exchange has accepted the Company’s plan for continued listing on the NYSE. As a result, the Company’s common stock will continue to be listed on the NYSE, subject to quarterly reviews by the NYSE to monitor the Company’s progress against the plan.
The NYSE notified the Company on January 11, 2010, that the Company had fallen below the NYSE’s continued listing standard requiring that it maintain an average market capitalization of at least $50 million over a consecutive 30 trading-day period. With the acceptance of the plan, the Company has 18 months from the original notification date in which to comply with the average market capitalization standard, subject to its compliance with the NYSE’s other continued listing requirements.
Except for historical information contained herein, the matters set forth in this news release are “forward looking” statements (as defined in the Private Securities Litigation Reform Act of 1995).
Although the Company believes the expectations reflected in such forward looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized.
Forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from the Company’s expectations.
Factors that could contribute to such differences include those identified in the Company’s Form 10-K for the year ended December 31. 2008, the Company’s other filings with the U.S. Securities and Exchange Commission, and those described from time to time in the Company’s other news releases and communications.