The parent company of computer-aided detection software developer Medicsight reported that it has received a notice that it is out of compliance with listing rules for the New York Stock Exchange (NYSE) Alternext U.S. exchange.
MGT Capital Investments of London said that it received the notice because the company failed to hold an annual shareholder meeting in 2008, as required by the exchange's listing standards.
MGT postponed the meeting because it has been considering "strategic alternatives" that would require shareholder approval. The company said it plans to hold a meeting before June 10, and that it has until March 10 to submit a plan to the exchange demonstrating its ability to regain compliance.
The company also commented on this week's proposal by the U.S. Centers for Medicare and Medicaid Services (CMS) not to establish federal reimbursement for virtual colonoscopy screening. Medicsight is in discussions with its strategic partners and clinical advisers to assess the implications that the ruling will have on the company, the firm said.
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