Standard Register Regains Full Compliance with NYSE Listing Standards
07 Octobre 2013 - 3:12PM
Business Wire
Standard Register (NYSE: SR) today reported that it has received
notification from the New York Stock Exchange (NYSE) that the
company is now back in compliance in relation to the NYSE’s
continued listing standards. This comes as a result of Standard
Register’s performance with respect to the business plan it
submitted to the NYSE and achievement of the applicable average
market capitalization requirement at the end of the 18-month plan
period.
On April 3, 2012 the Standard Register received notice from the
NYSE that it was not in compliance with the NYSE’s continuing
listing standard that requires listed companies to maintain market
capitalization in excess of $50 million. Under applicable NYSE
procedures, Standard Register submitted a plan to demonstrate its
ability to achieve compliance with the continued listing standards
within 18 months.
On May 14, 2012, Standard Register was notified by the NYSE that
it was not in compliance with continuing listing standard requiring
that companies maintain an average closing price above $1.00 over a
consecutive 30 trading-day period. Standard Register regained
compliance with this standard after it effectuated a reverse stock
split in May of 2013.
“Over the past 18 months, we have implemented the plan presented
to the NYSE, continued transforming the company and acquired
WorkflowOne,” said Joseph P. Morgan, Jr., president and chief
executive officer. “Our strategy of enhancing our traditional
business with solutions to manage communications and marketing
workflow, deliver content through multiple communication channels
and apply analytics to measure success have been well received in
the marketplace. The acquisition of WorkflowOne broadened our
customer base and product and solutions portfolio, and provided
greater financial stability and flexibility. We are energized and
confident that we are on the right path for long-term sustainable
growth.”
The Company will be subject to a 12-month follow-up period to
ensure that it remains in compliance with the NYSE’s continued
listing standards, as well as being subject to its normal
monitoring procedures.
About Standard Register
Standard Register (NYSE:SR), is trusted by the world’s leading
companies to advance their reputations and add value to their
operations by aligning communications with corporate standards and
priorities. Providing market-specific insights and a compelling
portfolio of workflow, communications and analytics solutions to
address the changing business landscape in healthcare, financial
services, manufacturing and retail 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 press release contains 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 could differ
materially from the Company’s current expectations.
Factors that could cause the Company’s results to differ
materially from those expressed in forward-looking statements
include, without limitation, our ability to successfully integrate
the acquired assets or achieve the expected synergies of the
WorkflowOne acquisition, access to capital for expanding in our
solutions, the pace at which digital technologies and electronic
health records (EHR) adoption erode the demand for certain products
and services, the success of our plans to deal with the threats and
opportunities brought by digital technology, results of cost
containment strategies and restructuring programs, our ability to
attract and retain key personnel, variation in demand and
acceptance of the Company’s products and services, frequency,
magnitude and timing of paper and other raw material price changes,
the timing of the completion and integration of acquisitions,
general business and economic conditions beyond the Company’s
control, and the consequences of competitive factors in the
marketplace, including the ability to attract and retain customers.
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. For more
information, see the Company’s most recent Form 10-K and other
filings with the Securities and Exchange Commission.
For Standard RegisterInvestor and media contact:Carol Merry,
614-383-1624carol.merry@fahlgren.com
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