EXPR.....Halted on delisting NR
Express, Inc. Receives Delisting Notice From the New York Stock Exchange
2024-03-06 13:45 ET - News Release
COLUMBUS, Ohio -- (Business Wire)
Express, Inc. (NYSE: EXPR) (“Express” or the “Company”) today announced that it received notification from the New York Stock Exchange (“NYSE”) indicating that the common stock of the Company will be delisted, and trading of its common stock on the NYSE was suspended, after market close on March 6, 2024.
The Company’s common stock will now trade publicly on the OTC Pink® Market under the symbol “EXPR”. This transition to the over-the-counter market will not affect the Company’s business operations or its U.S. Securities and Exchange Commission reporting obligations, and it does not conflict with or cause an event of default under any of the Company’s material debt or other agreements.
The NYSE reached its decision to delist the Company’s common stock pursuant to Rule 802.01B of the NYSE Listed Company Manual, which requires listed companies to maintain an average global market capitalization of at least $15 million over a period of 30 consecutive trading days.
“Over the past several months, we have taken decisive steps to position Express for the long term, including implementing a series of cost-saving initiatives and streamlining our process to enhance operational efficiency,” said Stewart Glendinning, CEO. “We remain focused on continuing to serve our customers and positioning our organization for the future.”