24/7 Media Inc., a multi-platform interactive marketing company, intends to request a hearing to appeal a Nasdaq Staff Determination that the company no longer complies with the $1.00 minimum bid
price requirement for continued listing and that the company's common stock is, therefore, subject to delisting from the Nasdaq National Market. The company received a letter from Nasdaq dated July 6,
2001 stating that the company's common stock will be delisted as of the opening of trading on July 16, 2001, unless the company requests a hearing by July 13, 2001. Under Nasdaq rules, the scheduled
delisting will be stayed pending the outcome of the hearing. Until then, the company's common stock will remain listed and will continue to trade on the Nasdaq National Market. The hearing is expected
to be held within 45 days of the date that the request for a hearing is filed with Nasdaq. At the hearing, the company intends to request an extension of the time to raise its share price. If the
appeal is denied, the company's common stock will be delisted from the Nasdaq National Market.
- Adam Bernard
