NYSE Regulation, Inc. (“NYSE Regulation”) announced today (August 17) that it determined that the common stock of Pope & Talbot, Inc. (the “Company”) - ticker symbol - POP should be suspended prior to the opening on Wednesday, August 22, 2007.
NYSE Regulation has determined that the Company's common stock is no longer suitable for continued listing on the NYSE. The decision to suspend the Company's securities was reached in view of the “abnormally low” trading price of its common stock, which closed at $0.40 on August 16, 2007 with a resultant market capitalization of $6.6 million. We also noted in the Company's recent 2007 press release disclosure regarding liquidity.
The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Application to the Securities and Exchange Commission to delist the issues is pending the completion of applicable procedures, including any appeal by the Company of the NYSE Regulation 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. -NYSE
