SOURCE: Virgin Mobile USA
April 03, 2009 12:55 ET
Virgin Mobile USA Meets NYSE Minimum Share Price Requirement
WARREN, NJ--(Marketwire - April 3, 2009) - Virgin Mobile USA, Inc. (NYSE: VM) received
notice from the New York Stock Exchange (NYSE) that as of March 31, 2009,
the company's 30-day average share price was above $1.00, restoring
compliance with the minimum share price requirement for NYSE continued
listing standards. As of March 31, 2009, Virgin Mobile USA's 30-day
average share price was $1.19.
Virgin Mobile USA, Inc. received letters of non-compliance from the NYSE in
November of 2008, notifying the company that it had fallen below both the
minimum share price and market capitalization requirements for continued
listing on the NYSE. On March 31, 2009, Virgin Mobile USA returned to
compliance with the pricing standard, but has not yet satisfied the minimum
market capitalization requirement. To return to compliance for the market
capitalization standard, the NYSE requires that Virgin Mobile USA have an
average market capitalization above $100 million for two consecutive
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About Virgin Mobile USA, Inc.
Virgin Mobile USA, Inc., through its operating company Virgin Mobile USA,
L.P., offers millions of customers control, flexibility and choice through
both Virgin Mobile's Plans Without Annual Contracts and contract offerings
through Helio By Virgin Mobile, with national coverage powered by the
Sprint PCS network.
Virgin Mobile USA is known for its award-winning customer service, with 90%
of its own customers reporting satisfaction. Virgin Mobile USA allows
customers to earn free minutes in exchange for viewing advertising content
online through the innovative Sugar Mama program. Virgin Mobile USA's full
slate of smart, stylish and affordable handsets are available at
approximately 40,000 top retailers nationwide and online at
http://www.virginmobileusa.com/, with Top-Up cards available at more than
140,000 locations. Helio's advanced devices like the Ocean and unlimited
all-in voice plans can be explored at http://www.helio.com/.