Pearson is today providing its regular January trading update. In addition, we have undertaken a rigorous, bottom-up review of our markets, our operations and our financial plans. As a result, we are taking further action to simplify our business, reduce our costs and position ourselves for growth in our major markets. To quantify how this will drive Pearson’s financial performance, we are providing earnings guidance for 2016 and setting out where we would expect to be by the end of 2018. 2015 results: we expect to report adjusted operating profit of approximately £720m and earnings per share of between 69p and 70p. We also intend to propose an unchanged final dividend of 34p per share giving a total dividend for 2015 of 52p per share, up 2% on 2014.
Aéropostale, Inc. (NYSE: ARO), a mall-based specialty retailer of casual apparel for young women and men, today disclosed that on September 29, 2015, it received notice from the New York Stock Exchange (the NYSE) that the average closing price of the Company’s common stock over a consecutive 30 trading-day period had fallen below $1.00 per share, which is the minimum average price required by the NYSE. The notice has no immediate impact on the listing of the Company’s common stock.
The Company plans to notify the NYSE by October 13, 2015 that it intends to cure the deficiency and return to compliance with NYSE continued listing requirements. Under the NYSE rules, the Company can cure this deficiency if, during the six-month period following receipt of the NYSE notice, on the last trading-day of any calendar month, the Company’s common stock has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. If the Company determines that it will cure the stock price deficiency by taking an action that will require approval by its stockholders at the next annual meeting of stockholders, the six-month period described above will extend to shortly after such annual meeting.
The Company intends to consider available alternatives, including but not limited to, a reverse stock split, in order to cure the stock price deficiency and return to compliance with the NYSE continued listing requirement.
The Company’s common stock will continue to be listed and traded on the NYSE during the cure period, subject to the Company’s compliance with the other NYSE listing standards.