STAMFORD, Conn., March 31, 2017 /PRNewswire/ -- Cenveo, Inc.
(NYSE: CVO) today announced that its Annual Meeting of Shareholders
will be held at its corporate headquarters, 200 First Stamford
Place, 2nd Floor in Stamford,
Connecticut on Thursday, April 27,
2017 at 8:00 a.m. Eastern
Time.
The Company also notes that on March 28,
2017, it received notice (the "Notice") from the New York
Stock Exchange, Inc. (the "NYSE") that the Company does not
presently satisfy the NYSE's continued listing standard requiring
the average market capitalization of the Company to not be less
than $50 million over a 30
trading-day period while its stockholders' equity is less than
$50 million. The Notice has no
immediate impact on the listing of the Company's common stock and
does not affect the Company's ongoing business operations or its
Securities and Exchange Commission reporting requirements. In
accordance with the NYSE rules, the Company intends to respond to
the Notice within 45 days of its receipt with the submission of a
business plan demonstrating how the Company intends to return to
compliance with the market capitalization standards within 18
months of receipt of the Notice (which period may be truncated by
the NYSE). The NYSE will review that plan and, within 45 days of
its receipt, determine whether we have made a reasonable
demonstration of an ability to achieve compliance on the market
capitalization standard. If the NYSE accepts the plan, the common
stock will continue to be listed and traded on the NYSE during that
specified period. The Company believes that its previously
announced two-year $50 million
profitability improvement plan will meaningfully present to the
NYSE the demonstration necessary to achieve compliance in the
appropriate period of time.
Cenveo (NYSE: CVO), world headquartered in Stamford, Connecticut, is a leading global
provider of print and related resources, offering world-class
solutions in the areas of custom
labels,
envelopes, commercial print, content
management and publisher
solutions. The company provides a one-stop
offering through services ranging from design and content
management to fulfillment and distribution. With a worldwide
distribution platform, we pride ourselves on delivering quality
solutions and service every day for our more than 100,000
customers. For more information please visit us at
www.cenveo.com.
Statements made in this release, other than those
concerning historical financial information, may be considered
"forward-looking statements," examples of which include statements
relating to our 2017 outlook and future financial condition and
operating results, as well as any other statement that does not
directly relate to any historical or current fact. These
forward-looking statements are based upon current expectations and
involve a number of assumptions, risks and uncertainties that could
cause actual results to differ materially from such forward-looking
statements. In view of such uncertainties, investors should not
place undue reliance on our forward-looking statements. Such
statements speak only as of the date of this release, and we
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Factors which could cause actual
results to differ materially from management's expectations
include, without limitation: (i) our substantial level of
indebtedness could materially adversely affect our financial
condition, liquidity and ability to service or refinance our debt,
and prevent us from fulfilling our business obligations; (ii) our
ability to pay the principal of, or to reduce or refinance, our
outstanding indebtedness; (iii) the terms of our indebtedness
imposing significant restrictions on our operating and financial
flexibility; (iv) additional borrowings available to us could
further exacerbate our risk exposure from debt; (v)
United States and global economic
conditions have adversely affected us and could continue to
adversely affect us; (vi) our ability to successfully integrate
acquired businesses with our business; (vii) a decline in our
consolidated profitability or profitability within one of our
individual reporting units could result in the impairment of our
assets, including goodwill and other long-lived assets; (viii) the
industries in which we operate our business are highly competitive
and extremely fragmented; (ix) a general absence of long-term
customer agreements in our industry, subjecting our business to
quarterly and cyclical fluctuations; (x) factors affecting
the United States postal services
impacting demand for our products; (xi) the availability of the
Internet and other electronic media adversely affecting our
business; (xii) increases in paper costs and decreases in the
availability of raw materials; (xiii) increases in energy and
transportation costs; (xiv) our labor relations; (xv) our
compliance with environmental laws; (xvi) our dependence on key
management personnel; (xvii) any failure, interruption or security
lapse of our information technology systems and (xviii) there can
be no assurances that our profitability plan will satisfy the NYSE
or result in achieving compliance with its listing standards. This
list of factors is not exhaustive, and new factors may emerge or
changes to the foregoing factors may occur that would impact our
business. Additional information regarding these and other factors
can be found in Cenveo, Inc.'s periodic filings with the SEC, which
are available at
www.cenveo.com.
Inquiries from analysts and investors should be directed
to Ayman Zameli at (203)
595-3063.
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SOURCE Cenveo, Inc.