The McClatchy Company said Friday that the New York Stock Exchange has determined the company's share price has returned to levels necessary to remain on the exchange.
Exchange regulators notified the newspaper company in February that its average share price over the previous 30 trading days was below the $1 per-share level necessary to continue trading on the exchange.
But in September, the Securities and Exchange Commission allowed the exchange to amend its average share price rules. Companies are now deemed compliant if they achieve a closing share price of at least $1.00 at the end of any calendar month during their cure period and the share price averages $1.00 or more over the 30-trading-day period ending on the last day of that month.
The New York Stock Exchange notified McClatchy that its month-end and average trading price for the month of August met this new requirement.
Friday, September 4, 2009
McClatchy gets to stay on NYSE
McClatchy announced today it was told by the NYSE that the company has met the requirements to stay listed on the Big Board.