Harte Hanks (NYSE: HHS), a leading data-driven multi-channel marketing solutions firm, announced that on January 24, 2019, the New York Stock Exchange (the “NYSE”) provided notice that it accepted the Company’s plan for continued listing. As a result, the Company’s common stock will continue to be listed on the NYSE, subject to quarterly reviews by the NYSE to ensure progress toward its plan to restore compliance with continued listing.
The notice from NYSE has no immediate impact on the listing of the Company’s common shares, which will continue to be listed and traded on the NYSE during the cure period, subject to the Company’s compliance with other listing requirements of the NYSE. The Company’s common shares will continue to trade under the symbol “HHS,” but will have an added designation of “.BC” to indicate the status of the common shares as “below compliance” with the NYSE’s continued listing standards. The Company will be subject to periodic review by the NYSE to determine whether the Company is making progress consistent with the accepted plan. If the Company does not make progress consistent with the plan during the plan period, the NYSE may initiate delisting proceedings.
As previously reported in a Current Report on Form 8-K filed with the Securities and Exchange Commission on November 2, 2018, the Company was notified on October 31, 2018, by the NYSE that the Company was not in compliance with the continued listing standard set forth in Section 802.01B of the NYSE Listed Company Manual because the Company’s average market capitalization was less than $50 million over a consecutive 30 trading-day period and the stockholders’ equity of the Company was less than $50 million. As set forth in the Notice, as of October 26, 2018, the 30-trading day average market capitalization of the Company was approximately $42.9 million and the Company’s last reported stockholders’ deficit as of June 30, 2018 was approximately ($7.3) million.
Source: Harte Hanks Press Release