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| XRM > SEC Filings for XRM > Form 8-K on 3-Aug-2012 | All Recent SEC Filings |
3-Aug-2012
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Sta
(a) On August 2, 2012, Xerium Technologies, Inc. (the "Company") was notified by the New York Stock Exchange (the "NYSE") that the Company had fallen below one of the NYSE's continued listing standards. Rule 802.01B of the NYSE Listed Company Manual requires companies whose total stockholders' equity is less than $50 million to maintain an average global market capitalization over a consecutive 30 trading-day period of not less than $50 million.
Under applicable NYSE rules, the Company has 45 days from the receipt of the notice to submit a plan advising the NYSE of definitive actions the Company has taken, or proposes to take, that would bring it into compliance with the market capitalization listing standards within 18 months of receipt of the letter. The Company intends to submit such a plan and has notified the NYSE that it intends to cure the deficiency within the prescribed timeframe. During this time, the Company's common shares will continue to be listed on the NYSE, subject to the Company's compliance with other NYSE continued listing standards.
As required under NYSE rules, the Company issued a press release on August 3, 2012, announcing that it had received the notice of non-compliance and that the Company intends to cure the deficiency within the prescribed timeframe. A copy of this press release is attached hereto as Exhibit 99.1 to this Form 8-K.
(d) Exhibits
The following exhibits are filed herewith.
Exhibit
No. Description
99.1 Press release dated August 3, 2012
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