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PeoplePC to Maintain Listing on Nasdaq Stock Market; Nasdaq Terminates Proceeding
10/9/2001 8:33:00 AM
SAN FRANCISCO, Oct 9, 2001 (BUSINESS WIRE) -- PeoplePC Inc. (Nasdaq:PEOP), the company that makes it easy and affordable to get online, announced today that Nasdaq has terminated its proceeding concerning removal of the Company's stock from listing on the Nasdaq Stock Market. The action was related to Nasdaq's recent suspension of its bid price and market value of public float listing requirements. As a result, PeoplePC will maintain its listing status and continue to trade its common stock under the symbol PEOP.
Based upon the foregoing, PeoplePC has canceled its special shareholder meeting that was to be held on October 29, for the purpose of approving a reverse stock split. The reverse stock split had been proposed as part of a plan to meet Nasdaq listing requirements.
About PeoplePCPeoplePC, founded in early 1999, provides a hassle-free and more affordable way to get online so that everyone can have access to and participate in the digital economy. PeoplePC offers its unique end-to-end solution both to individual consumers and to major corporations interested in wiring their workforces and creating deeper relationships with customers through PeoplePC online real estate. A PeoplePC membership comes complete with a new, brand name computer system, Internet access, and high-quality customer support and service. There's also a value-packed, customizable online community that fosters long-term connections with PeoplePC members and ongoing revenue possibilities. PeoplePC offers its services on a global basis, allowing people across the world to reap the rewards of the digital age. For more information, visit http://www.peoplepc.com.
Note to Editors: PeoplePC, PeopleShop, and their respective logos, are among the trademarks and/or service marks of PeoplePC, Inc. in the U.S. and other countries. All other trademarks belong to their respective holders
CONTACT: PeoplePC Inc., San Francisco
Lisa Murray, 415/901-6987
lisa.murray@PeoplepcHQ.com
URL: http://www.businesswire.com
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