Cleveland--Penton Media Inc. has submitted a plan to the New York Stock Exchange outlining how it intends to comply with the NYSE's continued listing criteria.
The NYSE notified Penton Sept. 9 that it had fallen below the exchange's minimum $15 million average market capitalization over a 30-day trading period.
If the NYSE rejects Penton's plan, the company's common stock will be subject to trading suspension and delisting.
If Penton's shares are delisted from the NYSE, the company said it will pursue having them included on the OTC Bulletin Board.
Penton shares closed Friday at 45 cents per share, for a market capitalization of $14.6 million.