Rite Aid (RAD) Regains Compliance with NYSE Price Listing Rule; Won't Do Reverse Stock Split
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Rite Aid Corporation (NYSE: RAD) today received notice from the NYSE that the company has regained compliance with the exchange's share price listing requirement.
Rite Aid regained compliance after its closing share price on June 30, 2009 and its average closing share price for the 30-days of trading ending June 30, 2009 were both above $1.00. The company, which has continued to trade on the NYSE, is now in compliance with all NYSE listing rules.
The company also said it does not intend to implement the reverse stock split its Board of Directors and stockholders had approved to regain compliance with the share price listing rule.
Rite Aid regained compliance after its closing share price on June 30, 2009 and its average closing share price for the 30-days of trading ending June 30, 2009 were both above $1.00. The company, which has continued to trade on the NYSE, is now in compliance with all NYSE listing rules.
The company also said it does not intend to implement the reverse stock split its Board of Directors and stockholders had approved to regain compliance with the share price listing rule.
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