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NYSE Arca to Suspend Trading in BFC Financial Corporation, Moves to Remove from the List
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NEW YORK, December 5, 2008 – NYSE Regulation, Inc. (“NYSE Regulation”) announced today that it determined that the Class A Common Stock of BFC Financial Corporation (the “Company”) – ticker symbol BFF – should be suspended from trading on NYSE Arca, Inc. (“NYSE Arca”) prior to the opening on Tuesday, December 9, 2008.
The Company has advised NYSE Regulation that it anticipates its Class A Common Stock will be quoted on the Pink Sheets following suspension.
The decision was reached because the Company is no longer in compliance with the minimum price and minimum market value of publicly held shares required for continued listing on NYSE Arca under Rule 5.5(b) Common Stock, Common Stock Equivalent Securities and Similar Issues and failed to cure this non-compliance within the required timeframe.
NYSE Regulation noted that it may, at any time, suspend a security if it believes continued dealings in the security on NYSE Arca are not advisable. Application to the U.S. Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures as the Company has indicated that it will not challenge this determination.
Company contact:
Leo Hinkley
954.940.4995
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