Accuride Receives Non-Compliance Notice from the NYSE - aftermarketNews

Accuride Receives Non-Compliance Notice from the NYSE

Under the NYSE's rules, the company has six months from the date of the NYSER notice to cure this deficiency before the NYSE will initiate suspension and delisting procedures.

EVANSVILLE, Ind. — Accuride received notice by NYSE Regulation Inc. (NYSER) on Oct. 24, that the company is not in compliance with the New York Stock Exchange (NYSE) continued listing standard requiring the company’s common stock to maintain an average closing price of not less than $1 per share over a consecutive 30 trading-day period. The NYSE requires notification from the company within 10 business days of the date of the NYSER notice of the company’s intent to cure the noncompliance or it will be subject to suspension and delisting procedures.

Under the NYSE’s rules, the company has six months from the date of the NYSER notice to cure this deficiency before the NYSE will initiate suspension and delisting procedures. During this period, the company’s common stock will remain listed on the NYSE, subject to the NYSE’s normal on-going reassessment and to compliance with other applicable NYSE continued listing requirements, including the minimum global market capitalization standard, which requires the company to maintain an average global market capitalization of at least $25 million over a consecutive 30 trading-day period. The company’s common stock remains listed on the NYSE under the symbol "ACW."

Accuride said it is exploring alternatives for curing this deficiency and restoring compliance with the continued listing standards. The company noted that the NYSE notification will not affect its business operations and does not change its SEC reporting requirements.

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