Pacific Office Properties Receives Non-Compliance Notice from NYSE Amex
25 Aprile 2011 - 11:29PM
Business Wire
Pacific Office Properties Trust, Inc. (NYSE Amex: PCE), a real
estate investment trust owning interests in 45 office buildings
primarily in Hawaii and California, reported today that it received
notice from the NYSE Amex (the “Exchange”) indicating that the
Company is not in compliance with the continued listing standards
specified in Section 1003(a)(i) of the Exchange’s Company Guide
because the Company has total equity of less than $2,000,000 and
losses in two out of its three most recent fiscal years, and
Section 1003(a)(ii) of the Company Guide because the Company has
total equity of less than $4,000,000 and losses in three out of its
four most recent fiscal years.
The equity, referenced above and determined under GAAP
accounting, differs from the Company’s market equity and net equity
in its office portfolio. The Company’s market equity is the market
value of all outstanding common stock and securities convertible
into common stock. The Company’s net equity in its office portfolio
is the market value of the office-building portfolio, less all
mortgage and corporate debt.
The notification received from the Exchange has had no current
effect on the listing of the Company’s shares of common stock on
the Exchange. The Company intends to submit a plan by May 19, 2011
pursuant to which the Company intends to establish compliance with
the requirements of Sections 1003(a)(i) and (ii) of the Company
Guide by October 19, 2012. Subject to the Exchange’s acceptance of
the Company’s plan, and the Company’s compliance with the
Exchange’s other continued listing standards, the Company expects
its shares of common stock will remain listed on the Exchange
during the plan period.
There can be no assurance that any plan submitted by the Company
will be accepted by the Exchange or, if the Company’s plan is
accepted, that it will be able to regain compliance within the plan
period.
About Pacific Office Properties Trust,
Inc.
Pacific Office Properties Trust, Inc.
(www.pacificofficeproperties.com) is a self-administered and
self-managed real estate investment trust that owns and operates
primarily institutional-quality office properties principally in
selected long-term growth markets in southern California and
Hawaii.
Certain Information About
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. We intend such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and are including this
statement for purposes of complying with those safe harbor
provisions. Forward-looking statements are not historical
information and are based on current expectations and involve risks
and uncertainties. Without limiting the generality of the
foregoing, words such as “should,” “may,” “will,” “expect,”
“believe,” “anticipate,” “intend,” “could,” “estimate,” “potential”
or “continue,” or the negative or other variations thereof or
comparable terminology, are intended to identify forward-looking
statements. The risks and uncertainties inherent in such statements
may cause actual future events or results to differ materially and
adversely from those described in the forward-looking statements.
Important factors that may cause a difference between projected and
actual results for Pacific Office Properties Trust, Inc. are
discussed in the Company’s filings from time to time with the SEC.
Pacific Office Properties Trust, Inc. disclaims any obligation to
revise or update any forward-looking statements that may be made
from time to time by it or on its behalf.
Grafico Azioni Pacific Office Properties Trust, (AMEX:PCE)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Pacific Office Properties Trust, (AMEX:PCE)
Storico
Da Set 2023 a Set 2024