Authorization

Natuzzi S.p.A. Received Continued Listing Standard Notice From the NYSE

Natuzzi S.p.A. (NYSE:NTZ) ("Natuzzia?? or the "Companya??) announced today that on April 7, 2020 it received notice from the New York Stock Exchange, Inc. (the "NYSE") that the Company is no longer in compliance with one of the NYSEa??s continued listing standards for a listed company because the average closing price of the Companya??s American Depositary Receipts ("ADRsa??) was less than US$1.00 over a consecutive 30-trading day-period (the "Dollar Price Standarda??).


NYSE notified the Company that its ADRs would be delisted if it is not able to comply with the Dollar Price Standard within the applicable cure period. As of April 6, 2020, the average closing price of Natuzzia??s ADRs over the preceding consecutive 30 trading-day period was US$ 0.78 per ADR. The issuance of the notification is not discretionary and is sent automatically when a listed companya??s share price falls below the Dollar Price Standard.


The Company can regain compliance at any time during the cure period if, on the last trading day of any calendar month during the cure period, the Company has a closing share price of at least US$1.00 and an average closing share price of at least US$1.00 over the 30 trading-day period ending on the last trading day of that month. In the event that the Company is not in compliance with the Dollar Price Standard at the end of the cure period, the Company expects that the NYSE will commence suspension and delisting procedures. Until then, the Companya??s shares are expected to continue to be listed and traded on the NYSE, subject to compliance with other NYSE continued listing standards.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Февраль 2021    »
ПнВтСрЧтПтСбВс
1234567
891011121314
15161718192021
22232425262728