Xerium Technologies Regains Partial NYSE Compliance
Jul 09, 2009. The NYSE notified the Company that because its closing price and average share price for the 30 days ended June 29, 2009 was above $1.00, it is no longer considered to be below the $1.00 continued listing criterion.
Jul 09, 2009. /Lesprom Network/. Xerium Technologies, Inc., a leading global manufacturer of industrial textiles and rolls used primarily in the paper production process, today announced that it has received notice from the New York Stock Exchange (NYSE) that the Company has regained compliance with the exchange’s share price listing requirement.
The NYSE notified the Company that because its closing price and average share price for the 30 days ended June 29, 2009 was above $1.00, it is no longer considered to be below the $1.00 continued listing criterion.
The Company has 18 months from the original non-compliance notification date on December 29, 2008 in which to regain compliance with the NYSE’s revised $50 million market capitalization and $50 million stockholders’ equity requirement. Xerium’s common stock will continue to be listed on the NYSE during the compliance period, subject to quarterly reviews by the exchange to monitor the Company’s progress against its approved plan for continued listing.
Xerium Technologies, Inc. is a leading global manufacturer and supplier of two types of consumable products used primarily in the production of paper: clothing and roll covers. With 32 manufacturing facilities in 13 countries around the world, Xerium has approximately 3,400 employees.