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NYSE to Suspend Trading in AbitibiBowater, Inc. and Moves to Remove from the List
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NEW YORK , April 16, 2009 – NYSE Regulation, Inc. (“NYSE Regulation”) announced today that it determined that the common stock of AbitibiBowater, Inc. (the “Company”) – ticker symbol ABH – should be suspended immediately.
This decision was based on the Company’s April 16, 2009 , announcement that it and certain of its U.S. and Canadian subsidiaries have filed voluntary petitions in the United States under Chapter 11 of the United States Bankruptcy Code. In addition, the Company and certain of its Canadian subsidiaries will also seek creditor protection under the Companies’ Creditors Arrangement Act in Canada .
Prior to the NYSE’s February 26, 2009 rule filing submitted to the Securities and Exchange Commission (“SEC ”) to temporarily suspend the $1.00 minimum share price requirement, the Company had previously been notified that it had fallen below the NYSE’s continued listing standard for average closing price of less than $1.00 over a consecutive 30 trading day period.
The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Application to the SEC to delist the issue is pending the completion of applicable procedures, including any appeal by the Company of the NYSE Regulation staff decision. The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.
Company contacts:
Investors
Duane Owens
Vice President, Finance
(864) 282-9488
Media and Others
Seth Kursman
Vice President, Communications and Government Affairs
514 394-2398
seth.kursman@abitibibowater.com
See Section 802.00 of the NYSE Listed Company Manual for continued listing criteria and procedure for delisting
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