TeamStaff intends to transfer its listing from Nasdaq Global Market to Nasdaq Capital Market

Oct 24 2009

TeamStaff, Inc. (Nasdaq: TSTF), a national provider of healthcare and administrative staffing services, today announced that it intends to file an application to transfer the listing of its common stock from the Nasdaq Global Market to the Nasdaq Capital Market. As previously announced, on September 15, 2009 the Company received notification from The Nasdaq Stock Market of non-compliance with the continued listing standards of The Nasdaq Global Market, stating that for the last 30 consecutive trading days, the Company's common stock has not maintained a minimum market value of publicly held shares ("MVPHS") of $5,000,000 as required for continued inclusion on the Nasdaq Global Market.

After considering alternatives and in the interest of providing our stockholders with the benefit of continued listing on the Nasdaq system, the Company has decided to request the transfer of the listing of its common stock to The Nasdaq Capital Market. The Company intends to file a transfer application as soon as practicable. The Company believes, based on quantitative data available at this time, that it satisfies the applicable quantitative continuing listing requirements for inclusion in The Nasdaq Capital Market. If Nasdaq approves the transfer application, the transfer is expected to occur approximately nine calendar days following Nasdaq's receipt of the completed transfer application. The Company will inform the public of Nasdaq's decision once received. However, there can be no assurance that the Company's transfer application will be approved. If it is not approved, the Company would consider alternatives at that time.