Standard Register Receives Notification of Non-Compliance from NYSE
06 Abril 2012 - 9:05AM
Business Wire
Standard Register (NYSE: SR), a leader in the management and
execution of mission-critical communications, today announced that
on April 3, 2012, it was notified by the New York Stock Exchange
(the “NYSE”) that it is no longer in compliance with the NYSE’s
continued listing standards. Standard Register is considered below
the criteria since the Company’s average market capitalization was
less than $50 million over a 30 trading-day period and, at the same
time, its shareowner’s equity was less than $50 million.
Under applicable NYSE procedures, the Company has 45 days from
receipt of the notice to submit a plan to the NYSE to demonstrate
its ability to achieve compliance with the continued listing
standards within 18 months. Standard Register intends to submit
such a plan, which will likely include many of the elements of the
strategic restructuring program announced on January 23, 2012, that
is designed to better align the Company’s resources in support of
its growing core solutions business and to reduce costs to offset
the impact of declining revenue in its legacy operations.
About Standard Register
Standard Register (NYSE:SR) is trusted by the world’s leading
companies to advance their reputations by aligning communications
with corporate standards and priorities. Providing market-specific
insights and a compelling portfolio of solutions to address the
changing business landscape in healthcare, financial services,
commercial and industrial markets, Standard Register is the
recognized leader in the management and execution of
mission-critical communications. More information is available at
http://www.standardregister.com.
Safe Harbor Statement
This report includes forward-looking statements covered by the
Private Securities Litigation Reform Act of 1995. Because such
statements deal with future events, they are subject to various
risks and uncertainties and actual results for fiscal year 2012 and
beyond could differ materially from the Company’s current
expectations. Forward-looking statements are identified by words
such as “anticipates,” “projects,” “expects,” “plans,” “intends,”
“believes,” “estimates,” “targets,” and other similar expressions
that indicate trends and future events.
Factors that could cause the Company’s results to differ
materially from those expressed in forward-looking statements
include, without limitation, variation in demand and acceptance of
the Company’s products and services, the frequency, magnitude and
timing of paper and other raw-material-price changes, general
business and economic conditions beyond the Company’s control,
timing of the completion and integration of acquisitions, the
consequences of competitive factors in the marketplace including
the ability to attract and retain customers, results of continuous
improvement and other cost-containment strategies, and the
Company’s success in attracting and retaining key personnel. The
Company undertakes no obligation to revise or update
forward-looking statements as a result of new information, since
these statements may no longer be accurate or timely.
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