ICA Announces Receipt of Notice of Non-Compliance From New York Stock Exchange
February 08 2016 - 7:00PM
Empresas ICA, S.AB. de C.V. (BMV:ICA)
(NYSE:ICA)
, the largest infrastructure and
construction company in Mexico, announced today that on January 8,
2016 it received notice from the New York Stock Exchange (NYSE)
that ICA is no longer in compliance with the NYSE’s continued
listing standards because the average closing price of ICA’s
American Depositary Shares, or ADSs, over a consecutive 30
trading-day period was less than US$1.00 per share.
Under NYSE rules, ICA has six months following
receipt of the notice to comply with the minimum share price
requirement.
ICA has notified the NYSE of its intention to
cure this deficiency within the prescribed timeframe. During the
six-month cure period, the Company’s ADSs will continue to be
listed and trade on the NYSE. The Company’s business
operations are not affected by the receipt of this NYSE notice.
This press release contains projections or other
forward-looking statements related to ICA that reflect ICA’s
current expectations or beliefs concerning future events. Such
forward-looking statements are subject to various risks and
uncertainties and may differ materially from actual results or
events due to important factors such as changes in general
economic, business or political or other conditions in Mexico,
Latin America or elsewhere, changes in capital markets in general
that may affect policies or attitudes towards lending to Mexico or
Mexican companies, changes in tax and other laws affecting ICA’s
businesses, increased costs, unanticipated increases in financing
and other costs or the inability to obtain additional debt or
equity financing on attractive terms and other factors set forth in
ICA’s most recent filing on Form 20-F and in any filing or
submission ICA has made with the SEC subsequent to its most recent
filing on Form 20-F. All forward-looking statements are based on
information available to ICA on the date hereof, and ICA assumes no
obligation to update such statements.
Empresas ICA, S.A.B. de C.V. is Mexico's
largest infrastructure company. ICA carries out large-scale civil
and industrial construction projects and operates a portfolio of
long-term assets, including airports, toll roads, water systems,
and real estate. Founded in 1947, lCA is listed on the Mexican and
New York Stock exchanges. For more information, visit
ir.ica.mx.
For more information, please contact:
Gabriela Orozco
gabriela.orozco@ica.mx
relacion.inversionistas@ica.mx
+(5255) 5272 9991 x 3012
Pablo Garcia
Chief Financial Officer
pablo.garcia@ica.mx
In the US:
Daniel Wilson, Zemi Communications
+(1212) 689 9560
dbmwilson@zemi.com