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Updated: 11:13 a.m. Monday, June 25, 2012 | Posted: 11:12 a.m. Monday, June 25, 2012
Staff Report
Dayton-based Standard Register said today that it expects that its shares (NYSE: SR) will continue to be listed and traded on the New York Stock Exchange.
The company said the exchange has accepted its plan for continued listing.
In April, the NYSE warned the company that its shares were falling in value beyond a certain benchmark and de-listing was a possibility. The company said then it would respond with a plan to bolster its shares’ value within 18 months.
Early Monday, Standard Register’s stock was trading at about 56 cents per share, up 6 cents from the previous close. The shares’ market capitalization — or total outstanding value — was put at about $16.03 million.
NYSE-traded stocks must average market cap of more than $50 million over a 30 trading-day period, Standard Register noted in its release.
“Standard Register submitted its confidential plan, which contained many of the elements of the strategic restructuring plan announced earlier in the year,” the company said in a release Monday “The plan, which is already being implemented, addresses Standard Register’s actions to align the company’s resources in support of its growing core solutions business and to reduce costs to offset the impact of declining revenue in its legacy operations.”
Standard Register said it will report second quarter earnings in late July.
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