HOUSTON, March 4, 2014 /PRNewswire/ -- GSE Holding, Inc. ("GSE" or the "Company") (NYSE: GSE), a leading global provider of highly engineered geosynthetic containment solutions for environmental protection and confinement applications, today announced that it has been notified by NYSE Regulation, Inc. that, because the Company was not in compliance with the continued listing standards set forth in Section 802.01B of the Listed Company Manual of the New York Stock Exchange, NYSE Regulation, Inc. intends to delist the Company's common stock from the New York Stock Exchange by filing a delisting application with the Securities and Exchange Commission. As previously disclosed, the Company has fallen below the continued listing standard requiring an average global equity market capitalization of at least $50 million over a consecutive 30 trading-day period where total stockholders' equity is less than $50 million. In addition, the Company has now fallen below the continued listing standards requiring (i) an average global equity market capitalization of at least $15 million over a consecutive 30 trading-day period and (ii) an average closing price of at least $1.00 over a consecutive 30 trading-day period.
The Company does not intend to appeal the delisting determination. The Company anticipates that the delisting of its common stock from the New York Stock Exchange will be effective at the opening of trading on Wednesday, March 5, 2014.
The Company expects that its common stock will be traded on the OTCQB Marketplace beginning on Wednesday, March 5, 2014 under the ticker symbol "GSEH." The Company can provide no assurance that any trading market for these securities will exist on the OTCQB Marketplace. The OTCQB Marketplace is a market tier operated by OTC Markets Group Inc. for over-the-counter traded companies.
About GSE Holding, Inc.GSE is a global manufacturer and marketer of geosynthetic lining solutions, products and services used in the containment and management of solids, liquids and gases for organizations engaged in waste management, mining, water, wastewater and aquaculture.