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NYSE accepts Penton's compliance plan

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Cleveland--Penton Media Inc., publisher of NED and Internet World, announced late Thursday that the New York Stock Exchange has accepted the company’s business plan for returning to compliance with all of the NYSE’s continued listing standards.

Those standards include: a $1 share price, as well as a $1 share price over a consecutive 30-trading-day period; an average market capitalization of not less than $50 million over a 30-trading-day period; and stockholders’ equity of not less than $50 million.

Penton will continue to be listed on the NYSE but will be subject to quarterly monitoring by the exchange.

If the company fails to achieve the plan’s goals, it will be subject to NYSE trading suspension and delisting.

Penton, which posted a net loss of $282.9 million in the third quarter, closed Thursday at 90 cents per share, giving the company a market capitalization of $29.25 million.

The company’s share price last closed at $1 or more on Nov. 29, when it closed at $1.05.

--Sean Callahan

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