LOK looksmart limited

looksmart delisting notice

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    LookSmart Receives NASDAQ Notification
    SAN FRANCISCO, April 21, 2005 /PRNewswire-FirstCall via COMTEX/ -- LookSmart (Nasdaq: LOOK, ASX: LOK), an Internet search company, announced it has received a letter from the NASDAQ Stock Market notifying the company that for the last 30 consecutive business days, the bid price of the company's common stock has closed below the minimum $1.00 per share price requirement for continued inclusion under NASD Marketplace Rules.

    LookSmart has 180 days to regain compliance with NASDAQ's National Market $1.00 minimum bid price rule. If at any time before October 12, 2005, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days (or such longer period of time as NASDAQ may require), NASDAQ will notify the Company that it is in compliance with the Rules. If the Company does not regain compliance by October 12, 2005 and if it meets the NASDAQ SmallCap Market initial inclusion requirements except bid price, it may apply to move from the NASDAQ/NMS to the NASDAQ SmallCap. If the application is approved, pursuant to SmallCap rules the Company would be granted an additional 180-day period to regain compliance.
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