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SunCom Wireless Intends to Appeal NYSE Delisting Decision19 December 2006
SunCom Wireless Holdings, Inc. ("SunCom") (NYSE: TPC) today said that it intends to appeal the New York Stock Exchange's (NYSE) decision to suspend SunCom's common stock prior to the opening of trading on December 19, 2006. The NYSE informed SunCom that it no longer meets the exchange's minimum market capitalization requirements. SunCom said that its stock will, for the time being, be traded over-the- counter commencing on December 19. Michael E. Kalogris, Chairman and Chief Executive Officer of SunCom Wireless Holdings, said, "While we are disappointed in the NYSE's decision, we intend to exercise our right to appeal. Importantly, we do not believe today's announcement will have any impact on the company's ability to pursue its business strategy or diminish the deep level of commitment our employees have to providing outstanding service to our more than 1 million wireless subscribers in the Southeastern portion of the United States, Puerto Rico or the U.S. Virgin Islands." Statements in this press release regarding SunCom Wireless's business that are not historical facts may be forward-looking statements. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from any such forward-looking statements are identified in Form 10-K for the year ended December 31, 2005 and other documents SunCom Wireless files from time to time with the U.S. Securities and Exchange Commission. About SunCom Wireless SunCom Wireless is a leader in offering digital wireless communications services to consumers in the Southeastern United States, Puerto Rico and the U.S. Virgin Islands. With more than 1 million subscribers, SunCom is committed to being a different kind of wireless company focused on treating customers with respect, offering simple, straightforward plans and providing access to the largest GSM network and the latest technology choices. SunCom Wireless is a proud provider of Wireless AMBER Alerts. For more information about SunCom products and services, visit http://www.suncom.com or call 877-CALL-SUN (1-877-225-5786).
Source: prnewswire
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