August 14, 2013
PDT Content Manager
USEC Inc. announced Wednesday that it had been notified by the New York Stock Exchange that the company had regained compliance with the NYSE’s minimum share price standard.
In May of 2012 USEC was notified by the NYSE that the company’s stock was not in compliance with the NYSE’s continued listing standard when the average closing price of its common stock dipped below $1.00 for the span of 30 prior trading days.
USEC stockholders approved a reverse stock split on June 27 of this year which was implemented on July 1. The split resulted in USEC commons stock trading above $1.00 for 30 consecutive trading days.
On Aug. 1 the NYSE accepted USEC’s plan to regain compliance with the minimum market capitalization and stockholders’ equity requirement over an 18-month period.
As of Tuesday, USEC’s average market capitalization was above the minimum of $50 million for the prior 30 trading-day period. If USEC can demonstrate a return to compliance for a period of two consecutive quarters, the NYSE could decide to end the 18-month plan period.
USEC remains subject to continued periodic review by the NYSE of its progress with respect to its plan, including USEC’s achievement of quarterly financial and operational initiatives, and subject to compliance with the other NYSE continued listing standards.
USEC Inc., a global energy company, is a leading supplier of enriched uranium fuel for commercial nuclear power plants.
Bob Strickley can be reached at 353-3101, ext. 296, or firstname.lastname@example.org. For breaking news, follow Bob on Twitter @rjstrickleyjr.