Journal Register Company Notified by NYSE of Non-Compliance With a Continued Listing Standard
03 Abril 2008 - 6:15AM
Marketwired
YARDLEY, PA today announced that on March 31, 2008 the Company
was notified by the New York Stock Exchange that the Company had
fallen below the NYSE's continued listing standard relating to
minimum share price. The NYSE standard requires that a company's
common stock trade at a minimum average closing price of $1.00 per
share during a consecutive 30-day trading period.
Under the NYSE rules, the Company has ten business days to
notify the NYSE of its intent to cure this deficiency and six
months to cure it or be subject to suspension and delisting. The
Company intends to notify the NYSE within the required ten business
day period that it intends to cure the deficiency. Under the NYSE
rules, the Company's common stock will continue to be listed on the
NYSE during the six month cure period, subject to compliance with
the other NYSE continued listing requirements. Although the Company
intends to cure its deficiency and to return to compliance with
NYSE continued listing requirements, there can be no assurance that
it will be able to do so.
About Journal Register Company
Journal Register Company is a leading U.S. media company.
Journal Register Company owns 22 daily newspapers and 310 non-daily
publications. Journal Register Company currently operates 229
individual Web sites that are affiliated with the Company's daily
newspapers, non-daily publications and its network of employment
Web sites. These Web sites can be accessed at
www.JournalRegister.com. All of the Company's operations are
strategically clustered in six geographic areas: Greater
Philadelphia; Michigan; Connecticut; Greater Cleveland; and the
Capital-Saratoga and Mid-Hudson regions of New York. The Company
owns JobsInTheUS, a network of 20 employment Web sites.
Safe-Harbor
This release contains forward-looking information about Journal
Register Company that is intended to be covered by the safe harbor
for forward-looking statements provided by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
statements that are not historical facts. These statements can be
identified by the use of forward-looking terminology such as
"believe," "expect," "may," "will," "should," "project," "plan,"
"seek," "intend," or "anticipate" or the negative thereof or
comparable terminology. These forward-looking statements involve a
number of risks and uncertainties, which could cause actual results
to differ materially. These risks and uncertainties include, but
are not limited to the Company's ability to achieve and maintain a
share price and average price above $1.00 per share of its common
stock at the expiration of the six-month period, commencement by
the NYSE of suspension and delisting procedures for failure to
successfully implement a plan to correct non-compliance with the
NYSE listing standards, the company's failure to continue to
satisfy the NYSE's other qualitative and quantitative listing
standards for continued listing and the NYSE's right to take more
immediate action in the event that the stock trades at levels that
are viewed as "abnormally low" on a sustained basis or other
qualitative factors. These and additional risk factors are outlined
in the Company's most recent Annual Report on Form 10-K filed with
the Securities and Exchange Commission. The Company undertakes no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future events, or
otherwise.
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For more information: Journal Register Company Investor
Relations 790 Township Line Road Yardley, PA 19067 Tel: (215)
504-4200 Fax: (215) 504-4201
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