ICO Global Communications Receives Nasdaq Marketplace Rule 5810(c)(3)(A) Compliance Notice -

RESTON, Va., Sep 18, 2009 (BUSINESS WIRE) --

ICO Global Communications (Holdings) Limited (ICO) (NASDAQ: ICOG) announced today that it has received notification from Nasdaq that for the last thirty consecutive business days the bid price of the Company's Class A common stock on the Nasdaq Global Market has closed below the minimum $1.00 per share required for continued inclusion under Nasdaq Marketplace Rule 5450(a)(1). In accordance with this rule, the Company has 180 calendar days, or until March 15, 2010, to regain compliance with the rule. The Nasdaq Listing Qualifications Department informed the Company that if the bid price of the Company's Class A common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the rule.

This notification has no effect on the listing of the Company's Class A Common Stock at this time. The Company intends to monitor the closing bid price of its Class A Common Stock between now and March 15, 2010. We intend to maintain the listing of our Class A Common Stock on The NASDAQ Global Market, and we will consider available options if our Class A Common Stock does not trade at a level likely to result in compliance with the Minimum Share Price Rule by March 15, 2010. In June 2009, our stockholders approved an amendment to our certificate of incorporation to effect a reverse stock split at a ratio of between 1-for-5 and 1-for-20. Our board of directors has authority to select a ratio within the approved range at any time prior to June 19, 2010. Our board of directors intends to effect the reverse stock split only if it determines the reverse split to be in the best interests of our stockholders. Such a reverse split would likely put us in compliance with the Minimum Share Price Rule.

ICO Global Communications 
Christopher Doherty 
703-964-1414 
christopher.doherty@ico.com

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Companies: ICO Global Communications Holdings Ltd (ICOG)

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ICO Global Communications Reports Nasdaq Compliance Notice - Zibb.com

Sep 24, 2009 (Close-Up Media via COMTEX) --

ICO Global Communications, a satellite communications company, announced that it has received notification from Nasdaq that for the last thirty consecutive business days the bid price of the company's Class A common stock on the Nasdaq Global Market has closed below the minimum $1.00 per share required for continued inclusion under Nasdaq Marketplace Rule 5450(a)(1).

In accordance with this rule, the company has 180 calendar days, or until March 15, 2010, to regain compliance with the rule. The Nasdaq Listing Qualifications Department informed the company that if the bid price of the company's Class A common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the company has achieved compliance with the rule.

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Tags: business   communications   market   nasdaq   satellite   stock split   trade  

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