OKLAHOMA CITY, Aug. 19, 2002 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) has received a Nasdaq Staff Determination indicating that the Company is not in compliance with the $3 per share minimum bid price requirement for continued listing under Marketplace Rule 4450 as a Standard 2 member on the Nasdaq National Market. Dobson's Class A common stock securities are therefore subject to delisting from the Nasdaq National Market.
The Company has until Thursday, August 22, 2002, to request a review of the Nasdaq Staff Determination before a Nasdaq Listing Qualifications Panel. If Dobson requests such a review, "a hearing request will stay the delisting of the Company's securities pending the Panel's decision," according to the notification. During the appeal period and until the appeal is finally decided, Dobson's Class A shares would continue to trade on the Nasdaq National Market.
Dobson Communications is a leading provider of wireless phone services to rural markets in the United States. Headquartered in Oklahoma City, the Company owns or manages wireless operations in 17 states. For additional information on the Company and its operations, please visit its Website at www.dobson.net.