Maui Land & Pineapple Company, Inc. (NYSE: MLP) announced that it has been notified by the New York Stock Exchange (NYSE) that it is no longer in compliance with the NYSE’s continued listing standards because its average market capitalization was less than $50 million over a 30 trading-day period and its most recently reported shareholders’ equity was less than $50 million.
Under applicable NYSE procedures, the Company has 45 days from receipt of the notification to submit a plan to the NYSE to demonstrate its ability to achieve compliance with the continued listing standards within 18 months. The Company intends to submit such a plan. During this time, the Company’s common stock will continue to be listed on the NYSE, subject to compliance with other NYSE continued listing requirements.
About Maui Land & Pineapple Company, Inc.
Maui Land & Pineapple Company, Inc. develops, sells, and manages residential, resort, commercial, and industrial real estate. The Company owns approximately 23,000 acres of land on Maui and manages properties, utilities, and a nature preserve at the Kapalua Resort.