SANTERAMO IN COLLE, Bari, Italy--(BUSINESS WIRE)--
Natuzzi S.p.A. (NTZ) (“Natuzzi” or the “Company”) announced today that it has regained compliance with the minimum average closing price criteria required by the New York Stock Exchange (the “NYSE”) for continued listing of the Company’s American Depositary Receipts (“ADRs”).
As previously disclosed, the Company received a notice from the NYSE on December 26, 2018 that the Company was not in compliance with the NYSE continued listing standards requiring a listed security to maintain a minimum average closing price of US$1.00 per security over a consecutive 30-trading-day period. On March 1, 2019, the Company received confirmation from the NYSE that it had regained compliance with continued listing standards after the average closing price for its ADRs for the consecutive 30-trading-day period ended February 28, 2019 exceeded US$1.00.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements set forth in this press release constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve risks and uncertainties that could cause the Company’s actual results to differ materially from those stated or implied by such forward-looking statements. More information about the potential factors that could affect the Company’s business and financial results is included in the Company’s filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 20-F. The Company undertakes no obligation to update any of the forward-looking statements after the date of this press release.
About Natuzzi S.p.A.
Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. is Italy’s largest furniture house and one of the most important global players in the furniture industry with an extensive manufacturing footprint and a global retail network. Natuzzi is the Italian lifestyle best-known brand in the upholstered furnishings sector worldwide (Brand Awareness Monitoring Report - Ipsos 2018) and has been listed on the New York Stock Exchange since May 13, 1993. Always committed to social responsibility and environmental sustainability, Natuzzi S.p.A. is ISO 9001 and 14001 certified (Quality and Environment), OHSAS 18001 certified (Safety on the Workplace) and FSC® certified (Forest Stewardship Council).