Maui Land & Pineapple Company, Inc. (NYSE:MLP) has been informed by the New York Stock Exchange (NYSE) that it is no longer on its “Watch List” and is now considered a “company back in compliance” in accordance with NYSE continued listing standards. The decision came as a result of MLP’s consistent positive performance with respect to its business plan and the achievement of compliance with the NYSE’s minimum market capitalization requirements.
The NYSE notified the Company in January 2010 that it was not in compliance with the NYSE’s continued listing standards and required the Company to submit a business plan to achieve compliance within 18 months.
“The Company’s return to compliance is a major accomplishment, made possible by the efforts and dedication of our employees, the vision and guidance of our Board of Directors, and the support and confidence of our shareholders,” stated Warren H. Haruki, chairman and interim CEO.
About Maui Land & Pineapple Company, Inc.Maui Land & Pineapple Company, Inc., organized in 1909, is a landholding, real estate development and asset management company headquartered on Maui, Hawaii. The Company owns approximately 23,000 acres of land on Maui, including its principal development, the Kapalua Resort, a 1,650 acre master-planned, destination resort community.