Bally Total Fitness Receives NYSE Delisting Notification
26 Abril 2007 - 6:12PM
PR Newswire (US)
Trading Suspension Scheduled For May 2, 2007 CHICAGO, April 26
/PRNewswire-FirstCall/ -- Bally Total Fitness (NYSE:BFT) announced
today that it was notified by NYSE Regulation, Inc. that trading in
Bally common stock will be suspended prior to the market open on
May 2, 2007. The NYSE also will take action to formally delist
Bally's common stock. NYSE Regulation indicated that its delisting
determination was a result of Bally's failure to satisfy the NYSE's
continued listing standards, including minimum market
capitalization and minimum average share price requirements.
Additionally, NYSE Regulation considered the Company's failure to
timely file its 2006 Annual Report on Form 10-K and its stated
liquidity position. The Company had been in communication with NYSE
Regulation regarding the Company's noncompliance with continued
listing standards, but was unsuccessful in its efforts to avoid
suspension and potential delisting. The Company does not intend to
appeal the NYSE's determination. The Company expects its common
stock to be quoted on the Pink Sheets electronic quotation service
following suspension. About Bally Total Fitness Bally Total Fitness
is among the largest commercial operators of fitness centers in the
U.S., with over 400 facilities located in 29 states, Mexico,
Canada, Korea, China and the Caribbean under the Bally Total
Fitness(R), Bally Sports Clubs(R) and Sports Clubs of Canada (R)
brands. Bally offers a unique platform for distribution of a wide
range of products and services targeted to active,
fitness-conscious adult consumers. Forward-Looking Statements
Forward-looking statements in this release including, without
limitation, statements relating to the Company's plans, strategies,
objectives, expectations, intentions, and adequacy of resources,
are made pursuant to the safe harbor provisions of Section 21E of
the Securities Exchange Act of 1934. Statements that are not
historical facts, including statements about the Company's beliefs
and expectations, are forward-looking statements. These statements
are based on beliefs and assumptions by the Company's management,
and on information currently available to management.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update publicly any of
them in light of new information or future events. In addition,
these forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. These
factors are described in filings of the Company with the SEC,
including the Notification of Late Filing on Form 12b-25 filed on
March 15, 2007. DATASOURCE: Bally Total Fitness CONTACT: Matt
Messinger of Bally Total Fitness, +1-773-864-6850 Web site:
http://www.ballyfitness.com/
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