Quorum Health Corporation Receives NYSE Continued Listing Standard Notice
06 Décembre 2019 - 11:30PM
Business Wire
Quorum Health Corporation (NYSE: QHC) (the “Company”) today
announced that it was notified (the “December Notice”) on December
3, 2019 by the New York Stock Exchange (the “NYSE”) that it was not
in compliance with the NYSE’s continued listing standards as a
result of the average closing price of the Company’s common stock
being less than $1.00 per share over a consecutive 30 trading-day
period. As set forth in the December Notice, as of December 3,
2019, the 30 trading-day average closing share price of the
Company’s common stock was $0.90.
In accordance with the NYSE rules, the Company has a period of
six months following the receipt of the December Notice to regain
compliance with the minimum share price requirement. The Company
plans to notify the NYSE within 10 business days of its intent to
cure the deficiency. The Company can regain compliance with the
minimum share price requirement at any time during the six month
cure period if, on the last trading day of any calendar month
during the cure period or on the last day of the cure period, the
Company has (i) a closing share price of at least $1.00 and (ii) an
average closing share price of at least $1.00 over the 30
trading-day period ending on such date.
As previously announced on May 3, 2019, the Company received
notice on April 30, 2019 that it was not in compliance with the
continued listing standard set forth in Section 802.01B of the
NYSE’s Listed Company Manual because the Company’s average market
capitalization was less than $50 million over a consecutive 30
trading-day period and the most recently reported stockholders’
equity of the Company was also less than $50 million. In connection
with the April notice, the Company developed a plan, which it is
currently implementing and which was accepted by the NYSE on June
10, 2019, to return to conformity with the relevant standards
required in Section 802.01B within the 18-month period allowed by
the NYSE.
The Company’s common stock will continue to trade under the
symbol “QHC”, but will continue to have the designation of “.BC” to
indicate the status of the common stock as being “below
compliance”. The December Notice does not affect the Company’s
business operations or its Securities and Exchange Commission
reporting requirements, nor does it conflict with or cause an event
of default under any of the Company’s debt agreements.
About Quorum Health Corporation
Quorum Health Corporation is an operator of general acute care
hospitals and outpatient services in the United States. Through its
subsidiaries, the Company owns, leases or operates a diversified
portfolio of 24 affiliated hospitals in rural and mid-sized markets
located across 14 states with an aggregate of 2,038 licensed beds.
The Company also operates Quorum Health Resources, LLC, a leading
hospital management advisory and consulting services business. More
information about Quorum Health Corporation can be found at
www.quorumhealth.com.
Forward-Looking Statements
Certain statements contained in this news release are
forward-looking statements that involve risk and uncertainties.
Actual future events or results may differ materially from these
statements. Readers are referred to the documents filed by Quorum
Health Corporation with the Securities and Exchange Commission,
including the Company’s annual report on Form 10-K, current reports
on Form 8-K and quarterly reports on Form 10-Q. These filings
identify important risk factors and other uncertainties that could
cause actual results to differ from those contained in the
forward-looking statements. The Company undertakes no obligation to
revise or update any forward-looking statements, or to make any
other forward-looking statements, whether as a result of new
information, future events or otherwise.
The terms “QHC,” “Quorum Health,” “the Company,” “we,” “us” or
“our” refer to Quorum Health Corporation or one or more of its
subsidiaries or affiliates as applicable.
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version on businesswire.com: https://www.businesswire.com/news/home/20191206005492/en/
Investor Contact: Asher Dewhurst Westwicke Partners
QuorumHealth@Westwicke.com / (443) 213-0500
Quorum Health (NYSE:QHC)
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