DNK.L Regulatory News (DNK)

3 Sep 2007 07:01

Danka Business Systems PLC03 September 2007 For Immediate Release 3 September 2007 Danka Business Systems PLC ("Danka" or "the Company") Danka Receives Nasdaq Notice Relating to Minimum Bid Price Danka Business Systems PLC (LSE:DNK; Nasdaq: DANKY), one of the largestindependent providers of enterprise imaging systems and services, todayannounced that the Company received a letter on August 29, 2007, from The NASDAQStock Market indicating that the Company is not in compliance with the continuedlisting requirement for minimum bid price on The NASDAQ Capital Market because,for the previous 30 consecutive business days, the bid price of the Company'sAmerican Depositary Shares ("ADSs") has closed below the minimum $1.00 per sharerequirement for continued listing under Marketplace Rule 4310(c)(4). In accordance with NASDAQ rules, Danka will be provided 180 calendar days, oruntil February 26, 2008, to regain compliance with the minimum bid pricerequirement. To regain compliance, the bid price of the Company's ADSs mustclose at $1.00 or more per share for a minimum of 10 consecutive business days.If the Company does not regain compliance by February 26, 2008, it is expectedthat the Company would receive a notice from the NASDAQ staff of itsdetermination that the Company's ADSs are subject to delisting, whichdetermination may be appealed by the Company to the NASDAQ ListingQualifications Panel. In such event, the Panel has authority to grant theCompany a further extension of time in which to regain compliance with the bidprice requirement, though there can be no assurance that the Panel will grant afurther extension of time. Danka's ADSs will continue to trade on The NASDAQ Capital Market under thesymbol "DANKY" during the 180-day period and during any appeal and extension oftime granted by the Panel, if applicable. The Company's primary listing of itsordinary shares on the London Stock Exchange is unaffected and its ordinaryshares will continue to trade on the London Stock Exchange regardless of anyaction taken by NASDAQ. For further information please contact: Danka Business Systems PLCCheley Howes, Danka Investor Relations +1 727-622-2760Rob Swadosh, The Dilenschneider Group +1 212-922-0900 ext. 132 Weber Shandwick FinancialGeorgia Dempsey 020 7067 0749 About DankaDanka delivers value to clients by using its expert technical and professionalservices to implement effective document information solutions. As one of thelargest independent providers of enterprise imaging systems and services, theCompany enables choice, convenience, and continuity. Danka's vision is toempower customers to benefit fully from the convergence of image and documenttechnologies in a connected environment. This approach will strengthen theCompany's client relationships and expand its strategic value. For moreinformation, visit Danka at www.danka.com. ### This information is provided by RNS The company news service from the London Stock Exchange