Mechel Reports Receipt of NYSE Notification

Марта 03, 2015

Mechel reports receiving notice from the New York Stock Exchange (NYSE) that Mechel OAO’s American Depositary Receipts (ADRs) are compliant with the listing’s standards requiring that an ADR’s average closing price over 30 consecutive trading days must not be lower than 1 US dollar

On October 30, 2014, Mechel OAO received an official NYSE notice that the company’s ADRs were no longer compliant with the NYSE listing’s standards requiring that an ADR’s average closing price over 30 consecutive trading days must not be lower than 1 US dollar. The company’s ADRs were assigned a BC suffix.

On January 29, 2015, the closing price for ADRs went higher than 1 US dollar and continued to grow throughout February. On February 27, 2015, the ADRs’ average closing price over 30 consecutive trading days amounted to $1.26 per ADR.

On March 2, 2015, the company received official notice from the New York Stock Exchange that its ADRs were compliant with the listing’s standards. The BC suffix will be removed by the NYSE.