Standard Register Common Stock to Move to OTC Trading
March 04 2015 - 09:20AM
Business Wire
The Standard Register Company (the “Company,” NYSE: SR) today
announced that it received a written notice from NYSE Regulation,
Inc. that trading of the Company’s common stock on the New York
Stock Exchange (“NYSE”) would be suspended before the NYSE opens on
March 4, 2015. The NYSE reached its decision to delist the common
stock pursuant to Section 802.01B of the NYSE’s Listed Company
Manual because the Company has fallen below the NYSE’s continued
listing standard requiring listed companies to maintain an average
global market capitalization over a consecutive 30 trading day
period of not less than $15,000,000.
The Company also announced that its common shares will be
available for trading over-the-counter (“OTC”) on the OTC Pink
marketplace beginning at 9:30 a.m. on March 4, 2015 under the
ticker symbol SRCT.
NYSE has informed the Company that it will apply to the
Securities and Exchange Commission to delist the Company’s common
stock upon the completion of all applicable procedures, including
any appeals by the Company of NYSE’s decision. While the Company
has the right to appeal the NYSE determination, based upon the cost
of appeal and the likelihood of success, the Company believes that
it is in the best interest of its shareholders not to contest this
action and has informed the NYSE that the Company will not appeal
the NYSE’s determination.
This transition to the OTC markets does not affect the Company’s
business operations and will not change its obligation to file
periodic and certain other reports with the Securities and Exchange
Commission under applicable federal securities laws. Company
shareholders are still the registered owners of their common shares
of the Company and commencing Wednesday, March 4, 2015 will be able
to trade them on OTC Pink.
About Standard Register
Standard Register (NYSE:SR) is trusted by the world’s leading
companies to advance their reputations and add value to their
operations by aligning communications with corporate brand
standards. Providing market-specific insights and a compelling
portfolio of workflow, content and analytics solutions to address
the changing business landscape in healthcare, financial services,
manufacturing, transportation and retail markets, Standard Register
is the recognized leader in the management and execution of
mission-critical communications. More information is available at
http://www.standardregister.com.
Safe Harbor Statement
This press release contains forward-looking statements covered
by the Private Securities Litigation Reform Act of 1995. Because
such statements deal with future events, they are subject to
various risks and uncertainties and actual results could differ
materially from the Company’s current expectations. Factors that
could cause the Company’s results to differ materially from those
expressed in forward-looking statements include, without
limitation, our ability to successfully integrate the acquired
assets or achieve the expected synergies of the WorkflowOne
acquisition, future pension funding requirements and recognition of
actuarial gains and losses, access to capital for expanding in our
solutions, the pace at which digital technologies and electronic
health records (EHR) adoption erode the demand for certain products
and services, the success of our plans to deal with the threats and
opportunities brought by digital technology, results of cost
containment strategies and restructuring programs, our ability to
attract and retain key personnel, variation in demand and
acceptance of the Company’s products and services, frequency,
magnitude and timing of paper and other raw material price changes,
the timing of the completion and integration of acquisitions,
general business and economic conditions beyond the Company’s
control, and the consequences of competitive factors in the
marketplace, including the ability to attract and retain customers.
The Company undertakes no obligation to revise or update
forward-looking statements as a result of new information, since
these statements may no longer be accurate or timely. For more
information, see the Company’s most recent Form 10-K and other
filings with the Securities and Exchange Commission.
Standard RegisterInvestor and media contact:Carol Merry,
614-383-1624carol.merry@fahlgren.comwww.standardregister.com
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