The New York Stock Exchange (“NYSE”) announced today that the staff of NYSE Regulation, Inc. (“NYSE Regulation”) has determined to commence proceedings to delist the common stock (the “Common Stock”) of IFM Investments Limited (the “Company”) – ticker symbol CTC – from the NYSE. Trading in the Company’s Common Stock will be suspended immediately.
NYSE Regulation reached its decision to delist the Common Stock pursuant to Listed Company Manual (“LCM”) Section 802.01B because the Company has fallen below the NYSE’s continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of not less than $15,000,000.
In addition, the Company had previously fallen below the NYSE’s continued listing standard in Section 802.01B of the LCM as its average global market capitalization over a consecutive 30 trading day period was less than $50,000,000 and its stockholders’ equity was less than $50,000,000. The Company was operating under a business plan to address this particular noncompliance. NYSE Regulation has now truncated the Company’s plan period in light of the new noncompliance with the aforementioned minimum $15,000,000 minimum market capitalization standard.
The Company has the right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. The NYSE will apply to the Securities and Exchange Commission to delist the Common Stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.
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NYSE To Suspend Trading In IFM Investments Limited And Commence Delisting Proceedings
Date 02/01/2015