The Container Store Receives Notice of Non-Compliance with New York Stock Exchange Trading Share Price Listing Rule
Company Intends to cure the deficiency and return to compliance with NYSE standard
Notice does not impact trading of the Company’s common stock
On
The Company intends to consider available options to cure the deficiency and restore compliance with Section 802.01C, including, but not limited to, a reverse stock split, subject to stockholder approval no later than at the Company’s next annual meeting of stockholders, if necessary.
The Company can regain compliance at any time within the six-month period following receipt of the NYSE notice if on the last trading day of any calendar month during the cure period the Company has a closing share price of at least
Under the NYSE’s rules, if the Company determines that it will cure the stock price deficiency by taking an action that will require stockholder approval at its next annual meeting of stockholders, the price condition will be deemed cured if the price promptly exceeds
The Company’s common stock will continue to be listed and trade on the NYSE during this period, subject to the Company’s compliance with other NYSE continued listing standards.
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Founded in 1978,
Visit www.containerstore.com for more information about complementary Custom Spaces in-home or in-store design, in-home organizing, products, store locations, trade program, and business to business opportunities.
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding the Company’s intention to consider alternatives to cure the NYSE continued listing requirement deficiency and the Company’s continued listing on the NYSE. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: the Company’s ability to regain compliance with the continued listing standards of the NYSE within the applicable cure period; and the other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K filed with the
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Investors:
203-682-8200
Farah.Soi@icrinc.com
Caitlin.Churchill@icrinc.com
Media:
publicrelations@containerstore.com
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