Nasdaq Panel Grants World Air Holdings Continued Listing
28 Noviembre 2005 - 7:18AM
PR Newswire (US)
PEACHTREE CITY, Ga., Nov. 28 /PRNewswire-FirstCall/ -- World Air
Holdings, Inc. (NASDAQ:WLDAE) announced today that a Nasdaq Listing
Qualifications Panel has granted the company's request for
continued listing on the Nasdaq National Market. The company's
continued listing is subject to its filing by no later than Dec.
15, 2005 an amended quarterly report on Form 10-Q/A for the period
ended June 30, 2005, after a complete review by the company's
auditors, and a quarterly report on Form 10-Q for the period ended
Sept. 30, 2005. Nasdaq had notified World Air Holdings on Sept. 29,
2005 that it was not in compliance because the company had not
filed a required Form 8-K/A in connection with the acquisition of
North American Airlines, Inc., and because the financial statements
included in the company's quarterly report on Form 10-Q for the
period ended June 30, 2005 had not been fully reviewed by the
company's independent auditors, KPMG LLP. World Air Holdings filed
the Form 8-K/A on Oct. 20, 2005 and appeared at a hearing before
the Nasdaq Listing Qualifications Panel on Nov. 3, 2005 to
demonstrate compliance with Nasdaq requirements for the filing of
an amended Form 10-Q/A for the quarter ended June 30, 2005 and the
Form 10-Q for the quarter ended Sept. 30, 2005. The company was
notified separately on Nov. 22, 2005, that its failure to file a
Form 10-Q for the quarter ended Sept. 30, 2005 also constituted a
violation of Nasdaq Marketplace Rule 4310(c)(14) and was a separate
basis for potential delisting. The panel's decision specifically
included the 10-Q filing requirement for the quarter ended Sept.
30, 2005 and will not require additional response by the company.
World Air Holdings is working diligently to complete and file the
necessary periodic reports to fully comply with the Nasdaq
requirements and the terms of the panel's decision. While the
company believes that it will satisfy these requirements, there can
be no assurance that it will be able to do so. The fifth character
"E" indicating that the company is not current in filing will
remain appended to its symbol until the company becomes compliant
with all requirements for continued listing on the Nasdaq National
Market. World Air Holdings has three wholly owned subsidiaries,
World Airways, Inc., North American Airlines, Inc., and World Risk
Solutions, Ltd. World Airways is a charter passenger and cargo
airline founded in 1948, North American is a charter passenger
airline founded in 1989, and World Risk Solutions is an insurance
subsidiary established in 2004. For further information, go to
http://www.worldairholdings.com/. DATASOURCE: World Air Holdings,
Inc. CONTACT: Media, Steve Forsyth of World Air Holdings, Inc.,
+1-770-632-8322, or INVESTORS, Karen Vahouny of Qorvis
Communications, +1-703-744-7809 Web site:
http://www.worldairholdings.com/
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