SIFCO Industries, Inc. (NYSE MKT: SIF) (the “Company” or "SIFCO")
received a notice on January 4, 2016 from the NYSE MKT LLC ("NYSE MKT")
indicating that the Company is below certain listing standards, as set
forth in Section 134 and 1101 of the NYSE MKT Company Guide, due to the
delay in filing of its Annual Report on Form 10-K for the year ended
September 30, 2015 (the "Form 10-K"). Under the NYSE MKT guidelines,
until SIFCO files its Form 10-K, its common stock will remain listed on
the NYSE MKT under the symbol "SIF," but will be assigned an ".LF"
indicator to indicate late filing status. Five business days following
the receipt of this noncompliance notice, SIFCO will be added to the
list of NYSE MKT noncompliant issuers on the website and the indicator
will be disseminated with the Company's ticker symbol. The indicator
will be removed once the Company has regained compliance with all
applicable listing standards.
In order to maintain its listing, SIFCO must submit a plan of compliance
by February 3, 2016 addressing its actions on how it intends to regain
compliance with Section 134 and 1101 of the NYSE MKT Company Guide by
July 5, 2016. If the plan is not accepted or if it is accepted but the
Company is not in compliance with the continued listing standards by
July 5, 2016, or if the Company does not make progress consistent with
its plan, the NYSE MKT will initiate delisting procedures as
appropriate. The Company intends to submit a compliance plan on or
before the deadline set by the NYSE MKT.
Currently SIFCO is working diligently to compile and disseminate the
information required to be included in the Form 10-K. The Company
expects to file the Form 10-K before the deadline set by the NYSE MKT.
Forward-Looking Language
Certain statements contained in this press release are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, such as statements relating to financial results and
plans for future business development activities, and are thus
prospective. Such forward-looking statements are subject to risks,
uncertainties and other factors, which could cause actual results to
differ materially from future results expressed or implied by such
forward-looking statements. Potential risks and uncertainties include,
but are not limited to, economic conditions, competition and other
uncertainties detailed from time to time in the Company's Securities and
Exchange Commission filings.
The Company's Form 10-K for the year ended September 30, 2014 can be
accessed through its website: www.sifco.com,
or on the Securities and Exchange Commission's website: www.sec.gov.
SIFCO Industries, Inc. is engaged in the production of forgings and
machined components primarily for the aerospace and energy markets. The
processes and services include forging, heat-treating, and machining.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160107006137/en/
Copyright Business Wire 2016