Accuride Corporation Receives Notice of NYSE Continued Listing Noncompliance
February 19 2016 - 4:30PM
Business Wire
- Common stock continues trading under
symbol “ACW”
Accuride Corporation (NYSE: ACW) (“The Company”) – a leading
supplier of components to the North American and European
commercial vehicle industries – announced that it was notified by
the New York Stock Exchange ("NYSE") on February 18, 2016 that the
Company was not in compliance with the NYSE Continued Listing
standard requiring listed-company common stock to maintain an
average closing price of not less than $1.00 per share over a
period of 30 consecutive trading days. Accuride has 10 business
days in which to inform the NYSE that we intend to restore our
compliance with its share-price requirement, and we intend to
comply with this requirement.
Under NYSE requirements, Accuride has six months from receipt of
this notification – subject to possible extension – to regain
compliance with the minimum share price requirement or be subject
to suspension and delisting by the NYSE. The Company may regain
compliance at any time during the six-month cure period if its
common stock has a closing share price of at least $1.00 on the
last trading day of any calendar month during the period, and also
has 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.
Accuride is exploring alternatives for curing this deficiency
and restoring compliance with the NYSE Continued Listing standards.
The notice does not affect the company’s normal business operations
or the listing of the Company’s common stock, which will continue
to trade on the NYSE under the symbol "ACW." The NYSE will assign
the stock a “.BC” designation to signify that the company is not in
compliance with NYSE Continued Listing standards.
About Accuride Corporation
With headquarters in Evansville, Ind., USA, Accuride Corporation
is a leading supplier of components to the North American and
European commercial vehicle industries. The company’s products
include commercial vehicle wheels; wheel-end components and
assemblies; and specialty cast-iron components for a range of
agricultural, construction and mining, and oil and gas equipment
applications. The company’s products are marketed under its brand
names, which include Accuride®, Accuride Wheel End Solutions™,
Gunite®, Gianetti Ruote™ and Brillion™. Accuride’s common stock
trades on the New York Stock Exchange under the ticker symbol ACW.
For more information, visit the Company’s website at
http://www.accuridecorp.com.
Forward-Looking Statements
Statements contained in this news release that are not purely
historical are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, including
statements regarding Accuride’s expectations, hopes, beliefs, and
intentions with respect to future results. Such statements are
subject to the impact on Accuride’s business and prospects
generally of, among other factors, market demand in the commercial
vehicle industry, general economic, business and financing
conditions, labor relations, governmental action, competitor
pricing activity, expense volatility and other risks detailed from
time to time in Accuride’s Securities and Exchange Commission
filings, including those described in Item 1A of Accuride’s Annual
Report on Form 10-K for the fiscal year ended December 31, 2014.
Any forward-looking statement reflects only Accuride’s belief at
the time the statement is made. Although Accuride believes that the
expectations reflected in these forward-looking statements are
reasonable, it cannot guarantee its future results, levels of
activity, performance or achievements. Except as required by law,
Accuride undertakes no obligation to update any forward-looking
statements to reflect events or developments after the date of this
news release.
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version on businesswire.com: http://www.businesswire.com/news/home/20160219005969/en/
Accuride CorporationMedia RelationsTimothy G. Weir, APR,
812-962-5128Director of Public Affairs, Communications &
Marketingtweir@accuridecorp.comorInvestor RelationsTodd Taylor,
812-962-5105Vice President and
Treasurerttaylor@accuridecorp.com
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