New York Stock Exchange Accepts Tasty Baking Company's Business Plan
September 27 2005 - 4:29PM
Business Wire
Tasty Baking Company (NYSE:TBC) today announced that the New York
Stock Exchange ("NYSE") has notified the company of its acceptance
of the company's business plan for continued listing on the NYSE.
The submitted business plan outlines how the company intends to
achieve compliance with the NYSE's recently increased continued
listing criteria. As a result of its acceptance, the company's
common stock will continue to be listed on the NYSE, pending
quarterly reviews by the NYSE's Listing and Compliance Committee
for progress against its business plan. As previously disclosed in
a press release and Form 8-K dated July 28, 2005, the NYSE
announced in June 2005 that it increased certain continued listing
criteria, including increased requirements for market
capitalization and shareholders' equity. Specifically, a company is
considered "below criteria" if its average global market
capitalization is less than $75 million over a consecutive 30
trading-day period and, at the same time, its stockholders' equity
is less than $75 million. Based on an initial assessment period
ended July 29, 2005, Tasty Baking Company received notice from the
NYSE on August 1, 2005, that the company was below this particular
increased continued listing standard, as disclosed on the company's
Form 8-K dated August 4, 2005. The company submitted its business
plan to the NYSE on September 15, 2005. ABOUT TASTY BAKING COMPANY
Tasty Baking Company (NYSE:TBC), founded in 1914 and headquartered
in Philadelphia, Pennsylvania, is one of the country's leading
bakers of snack cakes, pies, cookies, and donuts with manufacturing
facilities in Philadelphia and Oxford, Pennsylvania. Tasty Baking
Company offers more than 100 products under the Tastykake brand
name. For more information on Tasty Baking Company, visit
www.tastykake.com. In addition, consumers can send Tastykake
products throughout the United States from the company's website or
by calling 1-800-33-TASTY. "Safe Harbor Statement" Under the
Private Securities Litigation Reform Act of 1995 Except for
historical information contained herein, the matters discussed
herein are forward-looking statements (as such term is defined in
the Securities Act of 1933, as amended) that are subject to risks
and uncertainties that could cause actual results to differ
materially. There are a number of factors that may cause actual
results to differ from these forward-looking statements, including
general economic and business conditions. Other risks and
uncertainties that may materially affect the company are provided
in the company's annual reports to shareholders and the company's
periodic reports filed with the Securities and Exchange Commission
from time to time, including reports on Forms 10-K and 10-Q. Please
refer to these documents for a more thorough description of these
and other risk factors.
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