PECO II Receives 90-Day Extension from Nasdaq

April 08, 2003 by Jeff Shepard

PECO II Inc. (Galion, OH) announced that the Nasdaq Stock Market Inc. (Nasdaq) has extended by 90 days the company’s existing grace period for compliance with Nasdaq’s $1 minimum bid price requirement. During this extension period, PECO II will remain listed on the Nasdaq National Market, and its common shares will continue to trade under the symbol PIII.

If, at any time before June 9, 2003, the bid price of PECO II’s common shares closes

at or above $1 per share for a minimum of 10 consecutive trading days, or such other

length of time as Nasdaq may require, Nasdaq will provide written notification of

compliance with the listing requirements. If compliance cannot be demonstrated by

June 9, 2003, Nasdaq has indicated that it will provide written notification of the

commencement of the delisting process. At that time, PECO II may appeal the

determination to a Listing Qualifications Panel or seek to transfer its listing from

the Nasdaq National Market to the Nasdaq SmallCap Market.