Diomed Holdings Gets Delisting Determination Notice From AMEX

Diomed Holdings, Inc. (DIO) said Tuesday that it has received notice from the American Stock Exchange that the AMEX has determined to seek to delist the company's common stock on the basis that the company has not demonstrated a reasonable probability that it will regain compliance with the laid down standards for continued listing on the exchange. The standards require that a company maintain at least $4 million in stockholders' equity if the company has sustained losses from continuing operations in three of its four most recent fiscal years and at least $6 million in stockholders' equity if the company has sustained losses from continuing operations in its five most recent fiscal years.Diomed had previously submitted a compliance plan to the AMEX seeking to show its ability to regain compliance with these listing standards by the AMEX set February 3, 2009 deadline. In its notice, the AMEX also said it has determined that the low trading price of the company' common stock raises concern that the common stock may not be suitable for auction market trading, which would necessitate a reverse stock split within a reasonable period of time under certain section the AMEX Company Guide.