Reddy Ice Holdings (FRZ) Granted Another Notice Regarding NYSE Listing
Reddy Ice Holdings, Inc. (NYSE: FRZ) announced today that the Company has been notified by NYSE Regulations, Inc. that it is not in compliance with one of the continued listing standards of the New York Stock Exchange (the "NYSE").
Reddy Ice is considered below the continued listing criteria established by the NYSE because the Company's average closing price has been less than $1.00 over a consecutive 30 trading-day period.
In accordance with NYSE procedures, Reddy Ice has six months from the receipt of the notice on November 28, 2011 to bring its share price and average share price above $1.00. If, at the expiration of the six month period, the Company fails to achieve both a $1.00 share price and average share price over the preceding 30 trading days, the Company will be subject to suspension and delisting proceedings. As required by the NYSE's rules, the Company plans to notify the NYSE within 10 days of receipt of the non-compliance notice of the Company's intent to remedy its non-compliance.
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Reddy Ice is considered below the continued listing criteria established by the NYSE because the Company's average closing price has been less than $1.00 over a consecutive 30 trading-day period.
In accordance with NYSE procedures, Reddy Ice has six months from the receipt of the notice on November 28, 2011 to bring its share price and average share price above $1.00. If, at the expiration of the six month period, the Company fails to achieve both a $1.00 share price and average share price over the preceding 30 trading days, the Company will be subject to suspension and delisting proceedings. As required by the NYSE's rules, the Company plans to notify the NYSE within 10 days of receipt of the non-compliance notice of the Company's intent to remedy its non-compliance.
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