Rochester, NY 7/10/2009 2:04:22 AM
Afternoon Report - GRVY - GRAVITY Regains Compliance With NASDAQ Listing Requirements
Gravity Co., Ltd GRVY
Afternoon Report - GRVY - GRAVITY Regains Compliance With NASDAQ Listing Requirements
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Gravity Co., Ltd GRVY
Last Trade: 1.60
Day's Range: 1.50 - 1.70
52wk Range: 0.36 - 1.99
Volume: 239,137
COMPANY "In The News"
As previously announced on May 21, 2009, the Company had received a NASDAQ Staff Deficiency Letter, dated May 15, 2009, indicating that the Company was not in compliance with the audit committee composition requirement for continued listing under the Rule. On June 12, 2009, Mr. Kazuki Morishita resigned from the Company's audit committee and Mr. Jong Gyu Hwang was appointed to the Company's Board of Directors and audit committee. As a result of the appointment of Mr. Hwang, the Company has an audit committee comprised of three independent directors and received the Nasdaq Staff Letter noting that the Company complies with the Rule and that the matter is now closed.
COMPANY DETAILS
As previously announced on May 21, 2009, the Company had received a NASDAQ Staff Deficiency Letter, dated May 15, 2009, indicating that the Company was not in compliance with the audit committee composition requirement for continued listing under the Rule. On June 12, 2009, Mr. Kazuki Morishita resigned from the Company's audit committee and Mr. Jong Gyu Hwang was appointed to the Company's Board of Directors and audit committee. As a result of the appointment of Mr. Hwang, the Company has an audit committee comprised of three independent directors and received the Nasdaq Staff Letter noting that the Company complies with the Rule and that the matter is now closed.
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