Natuzzi S.p.A. Received Continued Listing Standard Notice From the NYSE
Natuzzi, S.p.A. (NTZ)
US:NYSE Investor Relations:
natuzzigroup.com/en-en/ir/investors.html
Company Research
Source: Business Wire
The Company Notified the NYSE That It Does Not Intend to Regain Compliance Within the Prescribed Timeframe SANTERAMO IN COLLE, Italy--(BUSINESS WIRE)--Natuzzi S.p.A. (NYSE:NTZ) (“Natuzzi” or the “Company”) announced today that on April 7, 2020 it received notice from the New York Stock Exchange, Inc. (the “NYSE“) that the Company is no longer in compliance with one of the NYSE’s continued listing standards for a listed company because the average closing price of the Company’s American Depositary Receipts (“ADRs”) was less than US$1.00 over a consecutive 30-trading day-period (the “Dollar Price Standard”).NYSE notified the Company that its ADRs would be delisted if it is not able to comply with the Dollar Price Standard within the applicable cure period. As of April 6, 2020, the average closing price of Natuzzi’s ADRs over the preceding consecutive 30 trading-day period was US$ 0.78 per ADR. The issuance of the notification is not discretionary and is sent automatically when a list
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