8-KSecurities & Listing

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Listing Notice (Apr 18, 2008)

Filed April 18, 2008For Securities:CHTR

Summary

Charter Communications, Inc. (CHTR) announced on April 18, 2008, that it received a notification from NASDAQ on April 14, 2008, indicating that its Class A common stock has fallen below the minimum bid price requirement of $1.00 per share for continued listing on the NASDAQ Global Select Market. This notification does not immediately impact the stock's listing. The company has been granted a 180-day period, until October 13, 2008, to regain compliance with the minimum bid price requirement. Charter Communications intends to monitor its stock price and explore available options to meet this requirement. Failure to do so by the deadline could lead to a potential delisting, although the company may appeal the decision or seek to transfer its listing to the NASDAQ Capital Market, which could provide an additional 180-day compliance period.

Key Highlights

  • 1Charter Communications received a non-compliance notification from NASDAQ regarding its stock bid price being below $1.00 per share for 30 consecutive business days.
  • 2The notification was received on April 14, 2008, and publicly announced via press release on April 18, 2008.
  • 3The company has until October 13, 2008 (180 days) to regain compliance with the minimum bid price requirement.
  • 4Compliance can be achieved if the stock closes at $1.00 or higher for 10 consecutive business days before the deadline.
  • 5Charter Communications is monitoring its stock price and considering options to address the non-compliance.
  • 6Potential outcomes if compliance is not met include appealing a delisting determination or transferring to the NASDAQ Capital Market, which may offer an additional compliance period.

Frequently Asked Questions

The main reason for this filing is to notify investors that Charter Communications received a letter from NASDAQ stating that its Class A common stock's bid price has fallen below the minimum $1.00 per share requirement for continued listing on the NASDAQ Global Select Market.

No, the notification does not mean immediate delisting. Charter has been granted 180 calendar days, until October 13, 2008, to regain compliance with the minimum bid price rule.

Charter can regain compliance if its Class A common stock closes at $1.00 per share or higher for at least 10 consecutive business days before October 13, 2008. The company is also considering other available options.

If compliance is not achieved by October 13, 2008, Charter may have the option to appeal the delisting determination to a NASDAQ Listings Qualifications Panel or transfer its listing to the NASDAQ Capital Market, which could provide an additional 180 days to comply.