Civeo Regains Compliance with NYSE Minimum Price Listing Standard

Rhea-AI Summary

Civeo Corporation (CVEO) announced its compliance with NYSE listing standards as of December 2, 2020. The company previously received a notice on March 27, 2020, indicating it had fallen below the minimum average closing price of $1.00 per share for 30 consecutive trading days. Civeo's average closing price for the 30 days ending November 30, 2020, exceeded $1.00, allowing for the removal of the non-compliance indicator. Civeo operates 28 lodges and villages, primarily in Canada and Australia, offering accommodation and hospitality services to workers in natural resource sectors.

Positive

• Regained compliance with NYSE listing standards on December 2, 2020.
• Average closing price exceeded $1.00 for 30 trading days leading to compliance.
• The company operates 28 lodges with approximately 30,000 rooms, indicating strong market presence.

Negative

• None.

HOUSTON--(BUSINESS WIRE)--Civeo Corporation (NYSE: CVEO) today announced that on December 2, 2020, Civeo was notified by the New York Stock Exchange (NYSE) that the Company has regained compliance with the NYSE's continued listing standards.

On March 27, 2020, Civeo received notification from the NYSE that the Company had fallen below the continued listing standard to maintain a minimum average closing price of $1.00 per share over 30 consecutive trading days.

Civeo regained compliance after its average closing price for the 30 trading days ended November 30, 2020 and its closing price on November 30, 2020 both exceeded $1.00 per share. The below compliance (“.BC”) indicator has been removed from the Company’s common shares, and the Company was removed from the NYSE list of non-compliant issuers.

About Civeo

Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently operates a total of 28 lodges and villages in Canada, Australia and the U.S., with an aggregate of approximately 30,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo's website at www.civeo.com.