Centrus Energy Corp. Regains Compliance with NYSE Listing Standards
03 Novembro 2014 - 10:19AM
Business Wire
Centrus Energy Corp. (NYSE:LEU) today reported that it has
received notification from the New York Stock Exchange that the
Company has regained compliance with the NYSE’s continued listing
standards. Centrus achieved compliance by making progress
consistent with a plan submitted to the NYSE to address the
Company’s non-compliance with a NYSE listing standard beginning in
2013 and by achieving an average 30 trading-day market
capitalization above $50 million.
On September 30, 2014, Centrus emerged from Chapter 11
bankruptcy, and its new common stock began trading on the New York
Stock Exchange under the ticker symbol “LEU.” The Company
maintained its NYSE listing throughout the Chapter 11 process, and
its 30 trading-day average market capitalization is now above $50
million.
The notification from the NYSE comes at the end of an 18-month
period for Centrus to cure the compliance issue. Prior to the
Company’s voluntary filing of its prearranged Chapter 11 plan of
reorganization, a decline in the total market capitalization for
the Company’s common stock in April 2013 caused it to be out of
compliance with a NYSE listing requirement. The Exchange requires
that a company maintain an average market capitalization of not
less than $50 million over a consecutive 30 trading-day period
where the company’s total stockholders’ equity is less than $50
million. Centrus submitted a plan advising the NYSE of definitive
actions it would take to bring the Company into compliance during
the 18-month cure period. Friday’s notification from the NYSE
confirms that Centrus’ stock is back in compliance with the listing
standard.
“Over the past 18 months, the management and employees of
Centrus worked hard to achieve the goals set out in the plan of
compliance submitted to the Exchange, which included the
restructuring and strengthening of our balance sheet through the
Chapter 11 process,” said John C. Barpoulis, Centrus senior vice
president and chief financial officer. “We appreciate the
professional, cooperative approach of the Exchange during this
period.”
In accordance with NYSE regulations, the Company will be subject
to a 12-month follow-up period to ensure that the Company does not
fall below any of the NYSE’s continued listing standards.
About Centrus Energy Corp.
Centrus Energy Corp. is a trusted supplier of enriched uranium
fuel for a growing fleet of international and domestic commercial
nuclear power plants. Centrus is working to deploy the American
Centrifuge technology for commercial needs and to support U.S.
energy and national security.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 21E of the Securities Exchange Act of 1934 -
that is, statements related to future events. In this context,
forward-looking statements may address our expected future business
and financial performance, and often contain words such as
“expects”, “anticipates”, “intends”, “plans”, “believes”, “will”
and other words of similar meaning. Forward-looking statements by
their nature address matters that are, to different degrees,
uncertain. For Centrus Energy Corp., particular risks and
uncertainties that could cause our actual future results to differ
materially from those expressed in our forward-looking statements
include uncertainty regarding our ability to improve our operating
structure, financial results and profitability following emergence
from Chapter 11; risks related to the ongoing transition of our
business, and other risks and uncertainties discussed in our
filings with the Securities and Exchange Commission, including our
Annual Report on Form 10-K and quarterly reports on Form 10-Q,
which are available on our website www.centrusenergy.com. We do not
undertake to update our forward-looking statements except as
required by law.
Centrus Energy Corp.Investors: Steven Wingfield,
301-564-3354Media: Paul Jacobson, 301-564-3399
Centrus Energy (AMEX:LEU)
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