K-V Pharmaceutical Company Announces Additional Notification From NYSE Regarding Listing Criteria
ST. LOUIS, July 20, 2012 /PRNewswire/ -- K-V Pharmaceutical Company (NYSE: KVa/ KVb) ("the Company") today announced that on July 16, 2012 it was notified by the New York Stock Exchange Regulation, Inc., ("NYSE") that it is below listing standard criteria due to the Company's average market capitalization being less than $50 million over a 30-day trading period and its stockholder's equity being less than $50 million. Per NYSE regulations, K-V intends to submit a plan to the NYSE within 45 days of receipt of the notification to demonstrate its ability to achieve compliance with these continued listing standards within 18 months of receipt of the notice.
In addition, the Company was notified by the NYSE that its Class B common shares are below criteria for the average closing price of a security of less than $1.00 over a consecutive 30-day trading period. The Company will have a six-month period from the date of the NYSE notification to cure the deficiency related to its Class B common shares. Per NYSE procedures, K-V intends to notify the NYSE within 10 business days from the receipt of the NYSE notification of its intent to cure the deficiency related to its Class B common shares within the six-month cure period.
As previously announced on June 29, 2012, the Company's Class A common shares are below criteria for the average closing price of a security of less than $1.00 over a consecutive 30 day trading period. The Company informed the NYSE of its intent to cure this deficiency within the six-month cure period on July 10, 2012.About K-V Pharmaceutical Company K-V Pharmaceutical Company is a specialty branded pharmaceutical company with a primary focus in the area of women's healthcare. As such, we are committed to advancing the health of women across all the stages of their lives.
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