Clear Channel Outdoor Holdings, Inc. Regains Compliance With NYSE Minimum Price Listing Standard

Rhea-AI Summary

On September 2, 2020, Clear Channel Outdoor Holdings (NYSE: CCO) announced that it has regained compliance with the NYSE's listing standards. This follows a notification received on August 4, 2020, regarding non-compliance due to the stock trading below $1.00 per share for a consecutive 30-day period. As of August 31, 2020, CCO's average closing price exceeded the $1.00 requirement, allowing the company to meet NYSE standards once again.

Positive

• Regained compliance with NYSE listing standards, enhancing investor confidence.
• Average closing price exceeded $1.00, mitigating risk of delisting.

Negative

• None.

SAN ANTONIO, Sept. 2, 2020 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today announced that on September 1, 2020, the Company was notified by the New York Stock Exchange ("NYSE") that the Company had regained compliance with the NYSE's continued listing standards.

As previously disclosed, on August 4, 2020, Clear Channel Outdoor received formal notice from the NYSE that it was not in compliance with the NYSE's continued listing standards as a result of the average closing price of the Company's common stock being less than $1.00 per share over a consecutive 30 trading-day period.

Clear Channel Outdoor regained compliance after its average closing price for the 30 trading days ended August 31, 2020 exceeded the NYSE's minimum requirement of $1.00 based on a 30 trading-day average.

About Clear Channel Outdoor Holdings, Inc.

Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world's largest outdoor advertising companies with a diverse portfolio of approximately 510,000 print and digital displays in 31 countries across North America, Europe, Latin America and Asia, reaching millions of people monthly. A growing digital platform includes more than 15,000 digital displays in international markets and more than 1,900 digital displays (excluding airports), including more than 1,400 digital billboards, in the U.S.

Comprised of two business divisions – Clear Channel Outdoor Americas (CCOA), the U.S. and Caribbean business division, and Clear Channel International (CCI), covering markets in Europe, Latin America and Asia – CCO employs approximately 4,900 people globally. More information is available at investor.clearchannel.com, clearchanneloutdoor.com and clearchannelinternational.com.

 

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SOURCE Clear Channel Outdoor Holdings, Inc.

FAQ

What did Clear Channel Outdoor announce on September 2, 2020?

Clear Channel Outdoor announced that it regained compliance with NYSE listing standards after the average closing price exceeded $1.00.

When did Clear Channel Outdoor receive notice of non-compliance?

Clear Channel Outdoor received the notice of non-compliance on August 4, 2020.

What was the reason for Clear Channel Outdoor's non-compliance with NYSE?

The non-compliance was due to the stock price being below $1.00 over a consecutive 30-day trading period.

How did Clear Channel Outdoor regain compliance with the NYSE?

The company regained compliance by having an average closing price above $1.00 for the 30 trading days ending August 31, 2020.

What is the stock symbol for Clear Channel Outdoor?

The stock symbol for Clear Channel Outdoor is CCO.