APPLE COMPUTER, maker of the iconic iPod music player, will this week seek a meeting with the Nasdaq stock exchange after receiving a threat to delist the company.

Apple is investigating the way in which share options to senior executives were awarded. The company has told the Securities and Exchange Commission (SEC) in the United States that it will delay filing its third- quarter financial figures until it determines whether its accounts should be restated.

This prompted a letter from Nasdaq last Friday giving warning that Apple could be delisted if it fails to adhere to SEC rules on submitting financial data on time.

Apple is expected to present its case to the Nasdaq listing committee this week. Both the San Francisco Chronicle and the Los Angeles Times reported that the exchange was likely to give the company time to complete its investigation.

More than 80 companies so far have been found to have mis-awarded share options and Apple has appointed independent counsel and directors to determine whether it, too, broke the rules.

Groups of shareholders have accused the California-based company of deliberately allocating options when the company’s stock was trading at a low level, giving executives substantially more profit when the share price rose again.

Apple is also accused of giving out options just before big announcements.

The company said that it would request a hearing before the Nasdaq listing qualifications panel “in response to the receipt of a letter indicating that it is not in compliance with the filing requirements”.

Apple’s share price has fallen from a high of $86.40 in January to $63.65 on Friday.

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