Harte Hanks Announces Reverse-Split Ratio and Date
December 29 2017 - 3:16PM
Harte Hanks (NYSE:HHS), a leader in developing customer
relationships, experiences and defining interaction-led marketing,
announced that its Board of Directors had adopted a 10-for-1
reverse split ratio for the reverse split approved by the Company’s
stockholders at the special meeting held December 14, 2017. The
reverse split will be effected January 31, 2018.
The Company also announced that on December 27, 2017, it
received notification from the New York Stock Exchange (NYSE) that
the Company is not in compliance with certain NYSE continued
listing standards relating to average share price.
The NYSE noted that as of December 26, 2017, the Company’s
average closing price was less than the $1.00 minimum over a
consecutive 30 trading-day period. The company has six months to
cure the non-compliance by bringing its share price and average
share price back above $1.00, which will be accomplished when the
10-for-1 reverse split is implemented. In the event that after the
six-month cure period, both a $1.00 share price and a minimum $1.00
30-day average share price are not attained the NYSE will commence
suspension and delisting procedures.
During the cure period, Harte Hanks common stock will continue
to be listed on the NYSE. The Company's common stock will continue
to trade under the symbol "HHS," but will have an added symbol of
".BC" to indicate that the Company is below compliance with the
NYSE’s listing standards.
About Harte Hanks:Harte Hanks is a global
marketing services firm specializing in multi-channel marketing
solutions that connect our clients with their customers in powerful
ways. Experts in defining, executing and optimizing the
customer journey, Harte Hanks offers end-to-end marketing services
including consulting, strategic assessment, data, analytics,
digital, social, mobile, print, direct mail and contact center.
From visionary thinking to tactical execution, Harte Hanks delivers
smarter customer interactions for some of the world's leading
brands. Harte Hanks 5,000+ employees are located in North America,
Asia-Pacific and Europe. For more information, visit Harte Hanks at
www.hartehanks.com, call 800-456-9748, email us at
pr@hartehanks.com. Follow us on Twitter @hartehanks or
Facebook at https://www.facebook.com/HarteHanks.
Cautionary Note Regarding Forward-Looking
Statements:
Our press release may contain “forward-looking statements”
within the meaning of U.S. federal securities laws. All such
statements are qualified by this cautionary note, provided pursuant
to the safe harbor provisions of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of
1934. Statements other than historical facts are
forward-looking and may be identified by words such as “may,”
“will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,”
“seeks,” “could,” “intends,” or words of similar meaning.
These forward-looking statements are based on current information,
expectations and estimates and involve risks, uncertainties,
assumptions and other factors that are difficult to predict and
that could cause actual results to vary materially from what is
expressed in or indicated by the forward-looking statements.
In that event, our business, financial condition, results of
operations or liquidity could be materially adversely affected and
investors in our securities could lose part or all of their
investments. These risks, uncertainties, assumptions and
other factors include: (a) local, national and international
economic and business conditions, including (i) market conditions
that may adversely impact marketing expenditures and (ii) the
impact of economic environments and competitive pressures on the
financial condition, marketing expenditures and activities of our
clients and prospects; (b) the demand for our products and services
by clients and prospective clients, including (i) the willingness
of existing clients to maintain or increase their spending on
products and services that are or remain profitable for us, and
(ii) our ability to predict changes in client needs and
preferences; (c) economic and other business factors that impact
the industry verticals we serve, including competition and
consolidation of current and prospective clients, vendors and
partners in these verticals; (d) our ability to manage and timely
adjust our facilities, capacity, workforce and cost structure to
effectively serve our clients; (e) our ability to improve our
processes and to provide new products and services in a timely and
cost-effective manner though development, license, partnership or
acquisition; (f) our ability to protect our facilities against
security breaches and other interruptions and to protect sensitive
personal information of our clients and their customers; (g) our
ability to respond to increasing concern, regulation and legal
action over consumer privacy issues, including changing
requirements for collection, processing and use of information; (h)
the impact privacy and other regulations, including restrictions on
unsolicited marketing communications and other consumer protection
laws; (i) fluctuations in fuel prices, paper prices, postal rates
and postal delivery schedules; (j) the number of shares, if any,
that we may repurchase in connection with our repurchase program;
(k) unanticipated developments regarding litigation or other
contingent liabilities; (l) the ability to integrate and
successfully leverage newly-acquired service offerings as
anticipated; (m) our ability to complete anticipated divestitures
and reorganizations; and (n) other factors discussed from time to
time in our filings with the Securities and Exchange Commission,
including under “Item 1A. Risk Factors” in our Annual Report
on Form 10-K for the year ended December 31, 2016 and in our
Quarterly Report on Form 10-Q for the three and nine months ended
September 30, 2017. The forward-looking statements in this
press release are made only as of the date hereof and we undertake
no obligation to update publicly any forward-looking statement,
even if new information becomes available or other events occur in
the future.
As used herein, “Harte Hanks” refers to Harte Hanks, Inc.
and/or its applicable operating subsidiaries, as the context may
require. Harte Hanks’ logo and name are trademarks of Harte
Hanks.
Contact:Scott HamiltonPublic & Investor
Relations(303) 214 - 5563scott.hamilton@hartehanks.com
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