TASE to suspend 4 cos failing to meet minimum requirements - TheStreet

The board of directors at the Tel Aviv Stock Exchange will discuss the suspension of trade of four companies ¿ Shahar Hamillenium (TASE:SHML), Kargal (TASE:KRGL), Binyan Mortgage Bank (TASE:BNIN) and A-Online Capital(TASE:AOC), which failed to meet the minimum requirements for continuing trade on the TASE. Binyan and A-Online fail to meet the requirement for public holding, since in the end of the public float in the companies was lower than NIS 1.6 million at the end of 2001. The value of public holdings in A-Online was NIS 656,000 at the time, and public holdings in Binyan at the time came to NIS 1.22 million. Since Binyan posted sharp leaps of more than 30% since the beginning of the year, public holdings in it now are NIS 1.62 million, above the required level. Public holding in A-Online, on the other hand, has dropped to NIS 631,000.

The market has already given these four companies a six month extension in order to meet the required investment level.

Each of the four companies is entitled to appeal the suspension until next Thursday.