ATHENS, Greece, June 3, 2019 /PRNewswire/ -- Danaos
Corporation (the "Company" or "Danaos") (NYSE: DAC) today
announced that the New York Stock Exchange (NYSE) has notified the
Company that it is has regained full compliance with NYSE minimum
average share price listing requirements.
Danaos received written notification from the NYSE, dated
June 1, 2019, that it has regained
compliance after the Company's average stock price for the
30-trading days ended May 31, 2019
was above the NYSE's minimum requirement of $1.00. The Company, which has continued to trade
on the NYSE, is now in compliance with all NYSE listing
requirements.
About Danaos Corporation
Danaos Corporation's fleet of 59 containerships aggregating
352,600 TEUs, including four vessels owned by Gemini Shipholdings
Corporation, a joint venture, ranks Danaos among the largest
containership charter owners in the world based on total TEU
capacity.
Forward-Looking Statements
Matters discussed in this release may constitute 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, including statements with respect
to the Company's ability to regain compliance with the NYSE's
continued listing standards and remain listed on
the NYSE or other major stock exchange and other
statements that are forward looking. Forward-looking statements
reflect our current views with respect to future events and
financial performance and may include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. The forward-looking statements in
this release are based upon various assumptions. Although Danaos
Corporation believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or
impossible to predict and are beyond our control, Danaos
Corporation cannot assure you that it will achieve or accomplish
these expectations, beliefs or projections. Important factors that,
in our view, could cause actual results to differ materially from
those discussed in the forward-looking statements include the
effects of refinancing transactions, Danaos' ability to achieve the
expected benefits of the refinancing and comply with the terms of
its new credit facilities and other agreements entered into in
connection with the refinancing, the strength of world economies
and currencies, general market conditions, including changes in
charter hire rates and vessel values, charter counterparty
performance, changes in demand that may affect attitudes of time
charterers to scheduled and unscheduled dry-docking, changes in
Danaos Corporation's operating expenses, including bunker prices,
dry-docking and insurance costs, ability to obtain financing and
comply with covenants in our financing arrangements, actions taken
by regulatory authorities, potential liability from pending or
future litigation, domestic and international political conditions,
potential disruption of shipping routes due to accidents and
political events or acts by terrorists.
Risks and uncertainties are further described in reports filed
by Danaos Corporation with the U.S. Securities and Exchange
Commission.
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SOURCE Danaos Corporation