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.
