ST. LOUIS, May 22, 2015 /PRNewswire/ -- Arch Coal, Inc.
(NYSE: ACI) announced today that it received notice on May 21, 2015 from the New York Stock Exchange
(the "NYSE") that it does not presently satisfy the NYSE's
continued listing standard requiring the average closing price of a
listed company's common stock to be at least $1.00 per share for any period of 30 consecutive
trading days. As of May 15, 2015, the
average closing price per share of the Company's common stock over
the preceding 30 trading-day period was $0.99.
In accordance with NYSE rules, the Company will respond to the
NYSE within 10 business days of receipt of the notification with
its intent to resolve the deficiency. The Company has six months to
regain compliance with the NYSE continued listing requirements and
will actively monitor its stock price and evaluate all available
options in order to regain compliance within the prescribed
timeframe.
During the six-month period the Company's common stock will
continue to be listed and traded on the NYSE, subject to compliance
with other continued listing standards. The deficiency does not
affect the Company's ongoing business operations or its SEC
reporting requirements.
U.S.-based Arch Coal, Inc. is one of the world's top coal
producers for the global steel and power generation industries,
serving customers on five continents. Its network of mining
complexes is the most diversified in the
United States, spanning every major coal basin in the
nation. The company controls more than 5 billion tons of
high-quality metallurgical and thermal coal reserves, with access
to all major railroads, inland waterways and a growing number of
seaborne trade channels. For more information, visit
www.archcoal.com.
Forward-Looking Statements: This press release contains
"forward-looking statements" – that is, statements related to
future, not past, events. In this context, forward-looking
statements often address our expected future business and financial
performance, and often contain words such as "expects,"
"anticipates," "intends," "plans," "believes," "seeks," or "will."
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. For us, particular
uncertainties arise from changes in the demand for our coal by the
domestic electric generation industry; from legislation and
regulations relating to the Clean Air Act and other environmental
initiatives; from operational, geological, permit, labor and
weather-related factors; from fluctuations in the amount of cash we
generate from operations; from future integration of acquired
businesses; and from numerous other matters of national, regional
and global scale, including those of a political, economic,
business, competitive or regulatory nature. These uncertainties may
cause our actual future results to be materially different than
those expressed in our forward-looking statements. We do not
undertake to update our forward-looking statements, whether as a
result of new information, future events or otherwise, except as
may be required by law. For a description of some of the risks and
uncertainties that may affect our future results, you should see
the risk factors described from time to time in the reports we file
with the Securities and Exchange Commission.
Logo -
http://photos.prnewswire.com/prnh/20120727/CG47668LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/arch-coal-receives-continued-listing-standard-notice-from-nyse-taking-steps-to-regain-compliance-with-minimum-share-price-standard-300088001.html
SOURCE Arch Coal, Inc.