Jan. 9, 2012
/PRNewswire/ -- MGT Capital Investments, Inc. ("MGT" or "the Company") (AMEX: MGT), a holding company with operations in the healthcare industry, today announced that on
January 3, 2012
it received notice from the staff of the NYSE Amex LLC (the "Exchange") that the Company does not meet one of the Exchange's continued listing standards because it failed to hold an annual meeting of its shareholders in 2011 for the fiscal year ended
December 31, 2010
, as required in Section 704 of the Exchange's Company Guide.
, the Company's interim President and Chief Executive Officer, stated, "The Company is aware of its obligations under the NYSE Amex's Company Guide, and plans to hold an annual meeting of shareholders before
May 31, 2012
. The Company has been afforded the opportunity to submit a plan of compliance to the NYSE Amex by
February 2, 2012
to demonstrate the ability to regain compliance with this requirement by
, 2012. The Company fully intends to do this. If the Company does not submit such a plan or if the plan is not accepted by the Exchange, the Company will be subject to delisting procedures as set forth in Section 1010 and part 12 of the Company Guide."
About MGT Capital Investments, Inc.
MGT is a holding company comprised of MGT, the parent company, and its wholly-owned subsidiary MGT Capital Investments (U.K.) Limited. In addition we also have a controlling interest in our subsidiary, Medicsight Ltd, including its wholly owned subsidiaries.
Medicsight is a medical technology company with operations in medical imaging software development and medical hardware devices. The company provides a computer-aided detection software application that is used to assist radiologists with early detection and measurement of colorectal polyps. The Company's software received a CE Mark in 2009, as well as clearance from the U. S. FDA in May 2011. Medicsight has also developed an automated carbon dioxide medical inflation device and associated disposable tubing (MedicCO 2 LON) that is being commercialized in partnership with a global distributor.