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Bristow Group Inc. announced that on May 1, 2019, it was notified by the New York Stock Exchange (NYSE) of its noncompliance with continued listing standards because the average closing price of its common stock over a prior 30 consecutive trading day period had fallen below $1.00 per share — the minimum average closing price per share required to maintain listing on the NYSE.
Under the NYSE rules, Bristow has a period of six months following the receipt of notice to regain compliance.
The company’s common stock will continue to be listed and traded on the NYSE during this six-month cure period, subject to the company’s compliance with other continued listing requirements set forth in the NYSE Listed Company Manual.
The notice does not affect the company’s ongoing business operations or its U.S. Securities and Exchange Commission reporting obligations.