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USOL Blocks De-Listing, Names New Chairman

AUSTIN-The Austin-based multifamily high-tech provider shifts to the Nasdaq Small Cap market after trading for less than $1 per share since March. In line with the move, the company puts in Roy Rose as chairman.

By Tim Green | Updated on June 14, 2002

AUSTIN-USOL Holdings Inc. has moved its stock listing to avoid being de-listed from the Nasdaq market and appointed a new chairman.

The Austin-based company’s stock price has been below $1 a share, the minimum trading price required by Nasdaq, since early March. The shift to the Nasdaq Small Cap market gives USOL until September to get the price back to $1. Shares were trading at 40 cents this morning.

USOL, through its subsidiary US OnLine, provides telecommunications services to 136 apartment communities in Austin, San Antonio and five other cities. The services include telephone, cable television and high-speed Internet access.

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