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Quantum Corporation: Quantum's Continued Listing Plan Accepted by NYSE

^{Published on 2009-03-13 14:06:49, Last Modified on 2009-03-13 14:07:25 - Market Wire}
 

SAN JOSE, CA--(Marketwire - March 13, 2009) - Quantum Corp. (NYSE: [ QTM ]), the leading global specialist in backup, recovery and archive, today announced that the New York Stock Exchange has accepted the company's proposed business plan for continued listing on the NYSE. As a result, Quantum's stock will continue to be listed pending quarterly reviews by the NYSE's Listing and Compliance Committee to ensure progress against the plan.

In addition, with the NYSE's recent suspension of its $1 minimum trading price requirement, Quantum now has until at least mid-August of this year to regain compliance with the $1 listing standard. If the company's stock price does not reach the required level by then, Quantum can proceed with a reverse stock split based on shareholder approval granted last year.

Quantum had previously announced that the NYSE had notified the company that it was not in compliance with the continued listing standards requiring companies to maintain an average market capitalization of at least $75 million over a trailing 30-day trading period and an average closing stock price of at least $1 for 30 consecutive trading days.

About Quantum

Quantum Corp. (NYSE: [ QTM ]) is the leading global storage company specializing in backup, recovery and archive. Combining focused expertise, customer-driven innovation, and platform independence, Quantum provides a comprehensive, integrated range of disk, tape, and software solutions supported by a world-class sales and service organization. This includes the DXi-Series, the first disk backup solutions to extend the power of data deduplication and replication across the distributed enterprise. As a long-standing and trusted partner, the company works closely with a broad network of resellers, OEMs and other suppliers to meet customers' evolving data protection needs. Quantum Corp., 1650 Technology Drive, Suite 800, San Jose, CA 95110, (408) 944-4000, [ www.quantum.com ].

Quantum and the Quantum logo are trademarks of Quantum Corporation registered in the United States and other countries. All other trademarks are the property of their respective owners.