By: E&P Staff The McClatchy Co. said today -- after the close of the markets -- it is in compliance with the New York Stock Exchange's (NYSE) standards for the listing concerning market capitalization and stockholder?s equity.
The NYSE received approval from the Securities and Exchange Commission to amend the requirements for public companies trading on the Big Board. The average market capitalization and the stockholders equity requirement has been lowered to no less than $50 million over a 30-day trading period from $75 million. It is applicable through Oct. 31, 2009.
McClatchy stock (NYSE: MNI) had been
skirting compliance for several months. In February, the Sacramento-based company received a warning from the NYSE that the company was not meeting the required guidelines. In addition to market capitalization benchmarks, shares exchanged on the Big Board must trade above $1 over a consecutive 30-day period. The NYSE temporarily suspended this guideline through June 30, 2009. As result, McClatchy said it currently has until Dec. 7, 2009 to bring the company into compliance with this listing standard.
Shares of MNI closed down one cent to 81 cents today.
Comments
No comments on this item Please log in to comment by clicking here