NYSE Suspends Qimonda AG, Moves to Remove from the List
NEW YORK, January 23, 2009 – NYSE Regulation, Inc. (“NYSE Regulation”) announced today that it determined that the American Depositary Shares of Qimonda AG (the “Company”) – ticker symbol QI – should be suspended immediately.
This decision was reached in view of the fact that the Company announced on January 23, 2009, that Qimonda AG and Qimonda Dresden GmbH & Co. OHG have filed an application with the local court in Munich today to open insolvency proceedings. In addition, the Company was below compliance with the NYSE’s continued listing standards for average share price over a consecutive 30 trading day period of not less than $1.00 and average global market capitalization over a consecutive 30 trading day period of not less than $100 million.
The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange (the “Committee”). Application to the Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the Company of the NYSE staff’s decision. The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.
Vice President Investor and Public Relations
Tel.: +49 89 60088 1200
Fax: +49 89 60088 44 1200
See Section 802.00 of the NYSE Listed Company Manual for continued listing criteria and procedure for delisting