GeoMet Announces Receipt of NASDAQ Global Market Listing Deficiency Notice

GeoMet, Inc. GMET announced today that it received notice from The NASDAQ Stock Market today advising the Company that, for the previous 30 consecutive business days, the bid price for the Company's common stock had closed below the minimum $1.00 per share required under NASDAQ Marketplace Rule 5450(a)(1) for continued listing on the NASDAQ Global Market. The notification letter states that the Company will be afforded 180 calendar days to regain compliance with the minimum bid price requirement. In order to regain compliance, the bid price of the Company's common stock must close at $1.00 per share or more for a minimum of ten consecutive business days. The grace period expires on August 1, 2012. In the event that the bid price deficiency is not cured by that time, the Company's securities will be subject to delisting. An additional 180-day period will be available to regain compliance if the Company transfers its listing to the NASDAQ Capital Market and meets all other listing requirements. The notification letter has no effect on the listing or trading of the Company's common stock and preferred stock on the NASDAQ Global Market at this time. No financial covenants or other agreements are impacted by this notice.