Print page
Email page
Download PDF
« Previous Release | Next Release »
Philadelphia, PA, October 28, 2008 - Constar International Inc. (NASDAQ: CNST), reported today that on October 22, 2008 it was given a notice by the NASDAQ Stock Market that NASDAQ has suspended enforcement of its bid price and market value of publicly held shares requirements through January 16, 2009. In that regard, on October 16, 2008, NASDAQ filed an immediately effective rule change with the Securities and Exchange Commission to implement the suspension. All companies presently in a bid price or market value of publicly held shares compliance period will remain at that same stage of the process and will not be subject to being delisted for these concerns. As a result, the Company's deadline to regain compliance with Marketplace Rule 4450(b)(3), which requires a minimum market value of publicly held shares of $15 million, is extended until March 16, 2009.
About Constar
Philadelphia-based Constar is a leading global producer of PET (polyethylene terephthalate) plastic containers for food, soft drinks and water. The Company provides full-service packaging solutions, from product design and engineering, to ongoing customer support. Its customers include many of the world's leading branded consumer products companies.
For more information contact:
Walter S. Sobon
Executive Vice President and Chief Financial Officer
(215) 552-3700
Ed Bisno
Bisno Communications
(212) 717-7578