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Six Flags could be removed from NYSE

Posted: October 2, 2008 9:41 p.m.
Updated: December 4, 2008 5:00 a.m.
 

NEW YORK — Six Flags Inc. is considering various options, including a reverse stock split, following notice from the New York Stock Exchange that is not compliant with the market’s listing standards, company officials said Thursday.

The stock has closed at an average of less than $1 a share for 30 days.

“Many companies are facing challenges in today’s volatile economic climate and Six Flags is no exception,” said Mark Shapiro, president and CEO of the company.

“We believe that our improved performance and cash flows will be key to repositioning the company for long-term growth.”

The company has six months to remedy the situation or be removed from NYSE listings. It will remain listed in the interim.

Six Flags owns Magic Mountain and Hurrican Harbor theme parks in the Santa Clarita Valley.
The company’s stock closed Thursday at 65 cents a share.

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