Cloud Peak Energy Announces NYSE Non-Compliance Notification Due to Minimum Average Share Price Requirement
December 27 2018 - 4:15PM
Business Wire
Cloud Peak Energy Inc. (NYSE: CLD) (the “Company”) announced
that on December 26, 2018, the Company was notified by the New York
Stock Exchange (“NYSE”) that the average closing price of the
Company’s shares of common stock had fallen below $1.00 per share
over a period of 30 consecutive trading days, which is the minimum
average share price for continued listing on the NYSE under Rule
802.01C of the NYSE Listed Company Manual. Under the NYSE’s rules,
the Company has six months following receipt of the notification to
regain compliance with the minimum share price requirement.
As required by the NYSE, the Company will notify the NYSE within
ten business days of its intent to cure the deficiency and return
to compliance with the NYSE continued listing requirements. The
Company can regain compliance at any time during the six month cure
period if on the last trading day of any calendar month during the
cure period, its common stock has a closing share price of at least
$1.00 and an average closing share price of at least $1.00 over the
30 trading day period ending on the last trading day of that
month.
About Cloud Peak Energy®
Cloud Peak Energy Inc. (NYSE:CLD) is headquartered in Wyoming
and is one of the largest U.S. coal producers and the only
pure-play Powder River Basin coal company. As one of the safest
coal producers in the nation, Cloud Peak Energy mines low sulfur,
subbituminous coal and provides logistics supply services. The
Company owns and operates three surface coal mines in the PRB, the
lowest cost major coal producing region in the nation. The Antelope
and Cordero Rojo mines are located in Wyoming and the Spring Creek
Mine is located in Montana. In 2017, Cloud Peak Energy sold
approximately 58 million tons from its three mines to customers
located throughout the U.S. and around the world. Cloud Peak Energy
also owns rights to substantial undeveloped coal and complementary
surface assets in the Northern PRB, further building the Company’s
long-term position to serve Asian export and domestic customers.
With approximately 1,300 total employees, the Company is widely
recognized for its exemplary performance in its safety and
environmental programs. Cloud Peak Energy is a sustainable fuel
supplier for approximately two percent of the nation’s
electricity.
Cautionary Note Regarding Forward Looking Statements
This release contains “forward-looking statements” within the
meaning of the safe harbor provisions of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking statements are not statements of
historical facts and often contain words such as “may,” “will,”
“expect,” “believe,” “anticipate,” “plan,” “estimate,” “seek,”
“could,” “should,” “intend,” “potential,” or words of similar
meaning. Forward-looking statements are based on management’s
current expectations, beliefs, assumptions and estimates regarding
our company, industry, economic conditions, government regulations
and energy policies and other factors. Forward-looking statements
may include, for example, statements regarding our intention and
efforts to regain compliance with the continued listing rules of
the NYSE and other statements regarding our plans, strategies,
prospects and expectations concerning our business, operating
results, financial condition, liquidity and other matters that do
not relate strictly to historical facts. These statements are
subject to significant risks, uncertainties, and assumptions that
are difficult to predict and could cause actual results to differ
materially and adversely from those expressed or implied in the
forward-looking statements, including our ability to regain
compliance with the continued listing rules of the NYSE.
Forward-looking statements are also subject to the risk factors and
cautionary language described from time to time in the reports and
registration statements we file with the Securities and Exchange
Commission, including those in Item 1A - Risk Factors in our most
recent Form 10-K and any updates thereto in our Forms 10-Q and
current reports on Form 8-K. Additional factors, events, or
uncertainties that may emerge from time to time, or those that we
currently deem to be immaterial, could cause our actual results to
differ, and it is not possible for us to predict all of them. We
make forward-looking statements based on currently available
information, and we assume no obligation to, and expressly disclaim
any obligation to, update or revise publicly any forward-looking
statements made in this release, whether as a result of new
information, future events or otherwise, except as required by
law.
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Cloud Peak Energy Inc.John Stranak, (720)
566-2932Investor Relations