Quiksilver Receives Continued Listing Standard Notice from NYSE
July 16 2015 - 4:01PM
Business Wire
Quiksilver, Inc. (NYSE:ZQK; the “Company”) today announced that
on July 10, 2015, the Company was notified by the New York Stock
Exchange (“NYSE”) that the Company’s common stock is not in
compliance with the NYSE’s continued listing standard that requires
a minimum average closing price of $1.00 per share over a period of
30 consecutive trading days.
Under the NYSE’s rules, the Company has a period of six months
from the date of the NYSE notice to bring its 30-day average share
price back above $1.00. However, if the Company determines to
remedy the non-compliance by taking action that will require
shareholder approval, such as a reverse stock split, the Company
must obtain shareholder approval of such action by no later than
its next annual meeting, and implement such action promptly
thereafter. During this period, the Company’s common stock will
continue to be traded on the NYSE, subject to the Company’s
compliance with other NYSE listing requirements. The Company will
notify the NYSE of its intent to cure this noncompliance.
The NYSE notification does not affect the Company’s business
operations or its Securities and Exchange Commission reporting
requirements.
About Quiksilver:
Quiksilver, Inc., one of the world’s leading outdoor sports
lifestyle companies, designs, produces and distributes branded
apparel, footwear and accessories. The Company’s apparel and
footwear brands, inspired by a passion for outdoor action sports,
represent a casual lifestyle for young-minded people who connect
with its boardriding culture and heritage. The Company’s
Quiksilver, Roxy, and DC brands have authentic roots and heritage
in surf, snow and skate. The Company’s products are sold in more
than 100 countries in a wide range of distribution, including surf
shops, skate shops, snow shops, its proprietary Boardriders shops
and other Company-owned retail stores, other specialty stores,
select department stores and through various e-commerce channels.
The Company’s corporate headquarters are in Huntington Beach,
California.
Forward-looking statements:
This press release contains forward-looking statements
including, but not limited to, statements regarding the future
stock price of the Company’s common stock and the Company’s intent
to regain compliance with NYSE listing standards. These
forward-looking statements are subject to risks and uncertainties,
and actual results may differ materially. The Company undertakes no
obligation to update these statements, which are made only as of
the date of this press release. For the factors that could cause
actual results to differ materially from expectations, please refer
to the Company’s SEC filings and specifically the sections titled
“Risk Factors,” “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” and “Forward-Looking
Statements” in the Company’s Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q.
NOTE: For further information about Quiksilver, Inc., please
visit our website at www.quiksilverinc.com. We also invite you to
explore our brand sites, www.quiksilver.com, www.roxy.com and
www.dcshoes.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150716005095/en/
ICR, Inc.Investors:Jean Fontana,
646-277-1214zqk@quiksilver.comorICR, Inc.Media:Julia Young,
646-277-1280Julia.young@icrinc.com