A. H. Belo Corporation Receives Continued Listing Standard Notice from NYSE
October 30 2020 - 4:00PM
A. H. Belo Corporation (NYSE: AHC) announced that today it was
notified by the New York Stock Exchange (NYSE) that it is not in
compliance with the exchange’s continued listing standard for total
market capitalization and shareholders’ equity. NYSE continued
listing standards require the Company to maintain an average market
capitalization of more than $50 million over a 30 trading-day
period if, at the same time, its stockholders’ equity is less than
$50 million.
The Company is below the criteria for continued listing because
as of October 28, 2020, its average market capitalization was
less than $50 million over a consecutive 30 trading-day
period and stockholders’ equity in its Quarterly Report on Form
10-Q filed with the Securities and Exchange Commission (SEC) was
$49.8 million.
In accordance with NYSE procedures, the Company has 45 days to
submit a plan to the NYSE demonstrating how it intends to comply
with the NYSE’s continued listing standards within 18 months of
receipt of the notice. The Company intends to bring the Company in
compliance with the listing standards within the required
timeframe.
About A. H.
Belo Corporation
A. H. Belo Corporation is the leading local news and information
publishing company in Texas. The Company has a growing presence in
emerging media and digital marketing, and maintains capabilities
related to commercial printing, distribution and direct mail. A. H.
Belo delivers news and information in innovative ways to a broad
range of audiences with diverse interests and lifestyles. For
additional information, visit www.ahbelo.com or email
invest@ahbelo.com.
Statements in this communication concerning A. H. Belo
Corporation’s business outlook or future economic performance,
revenues, expenses, and other financial
and non-financial items that are not historical facts,
including statements of the Company’s expectations relating to its
plans to regain NYSE compliance, are “forward-looking statements”
as the term is defined under applicable federal securities laws.
Forward-looking statements are subject to risks, uncertainties and
other factors that could cause actual results to differ materially
from those statements. Such risks, trends and uncertainties are, in
most instances, beyond the Company’s control, and include changes
in advertising demand and other economic conditions; consumers’
tastes; newsprint prices; program costs; labor relations;
cybersecurity incidents; technological obsolescence; and the
current and future impacts of the COVID-19 public health crisis.
Among other risks, there can be no guarantee that the board of
directors will approve a quarterly dividend in future quarters; as
well as other risks described in the Company’s Annual Report on
Form 10-K and in the Company’s other public disclosures
and filings with the Securities and Exchange Commission.
Forward-looking statements, which are as of the date of this
filing, are not updated to reflect events or circumstances after
the date of the statement.
Contact:Katy Murray214-977-8869
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