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April 3, 2008
Journal Register
Company Notified by NYSE of Non-Compliance with a Continued Listing
Standard
Yardley, PA – Journal Register Company (NYSE:JRC)
today announced that on March 31, 2008 the Company was notified by
the New York Stock Exchange that the Company had fallen below the
NYSE’s continued listing standard relating to minimum share price.
The NYSE standard requires that a company’s common stock trade at a
minimum average closing price of $1.00 per share during a
consecutive 30-day trading period.
Under the NYSE rules, the Company has ten business
days to notify the NYSE of its intent to cure this deficiency and
six months to cure it or be subject to suspension and delisting.
The Company intends to notify the NYSE within the required ten
business day period that it intends to cure the deficiency. Under
the NYSE rules, the Company’s common stock will continue to be
listed on the NYSE during the six month cure period, subject to
compliance with the other NYSE continued listing requirements.
Although the Company intends to cure its deficiency and to return to
compliance with NYSE continued listing requirements, there can be no
assurance that it will be able to do so.
About Journal Register Company
Journal Register Company is a leading U.S. media
company. Journal Register Company owns 22 daily newspapers and 310
non-daily publications. Journal Register Company currently operates
229 individual Web sites that are affiliated with the Company's
daily newspapers, non-daily publications and its network of
employment Web sites. These Web sites can be accessed at
www.JournalRegister.com.
All of the Company's operations are strategically clustered in six
geographic areas: Greater Philadelphia; Michigan; Connecticut;
Greater Cleveland; and the Capital-Saratoga and Mid-Hudson regions
of New York. The Company owns JobsInTheUS, a network of 20
employment Web sites.
Safe-Harbor
This release contains forward-looking information
about Journal Register Company that is intended to be covered by the
safe harbor for forward-looking statements provided by the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
are statements that are not historical facts. These statements can
be identified by the use of forward-looking terminology such as
"believe," "expect," "may," "will," "should," "project," "plan,"
"seek," "intend," or "anticipate" or the negative thereof or
comparable terminology. These forward-looking statements involve a
number of risks and uncertainties, which could cause actual results
to differ materially. These risks and uncertainties include, but are
not limited to the Company's ability to achieve and maintain a
share price and average price above $1.00 per share of its common
stock at the expiration of the six-month period, commencement by the
NYSE of suspension and delisting procedures for failure to
successfully implement a plan to correct non-compliance with the
NYSE listing standards, the company’s failure to continue to satisfy
the NYSE’s other qualitative and quantitative listing standards for
continued listing and the NYSE’s right to take more immediate action
in the event that the stock trades at levels that are viewed as
“abnormally low” on a sustained basis or other qualitative factors.
These and additional risk factors are outlined in the Company's
most recent Annual Report on Form 10-K filed with the Securities and
Exchange Commission. The Company undertakes no obligation to
publicly update any forward-looking statement, whether as a result
of new information, future events, or otherwise.
| For more information: |
Journal Register Company
790 Township Line Road
Yardley, PA 19067
(215) 504-4200 voice;
(215) 504-4201 fax |
Investor Relations
Tel: (215) 504-4200
Fax: (215) 504-4201
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