Rite Aid Regains Compliance With NYSE Share Price Listing Rule
On July 1, Rite Aid was notified by the New York Stock Exchange (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.
Rite Aid 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.