Sappi North America today announced the North American Printer of the Year and 10 Gold Award winners for its 18th North American Printer of the Year contest. Regarded as the world's most respected accolade of excellence in printed communications, this award recognizes innovation and excellence in print across 10 categories for work produced on Sappi papers. These winners were chosen as the most outstanding print submissions from over 1500 entries this year. "The way people communicate is continually evolving, and printers everywhere are reflecting that in the increasingly creative methods they use to inspire and engage people," said Patti Groh, Director of Marketing Communications, Sappi North America. "With our Printer of the Year competition, Sappi recognizes the most brilliant and visionary ideas shaping the future of our industry year after year."
LSC Communications, Inc. (NYSE: LKSD) (“LSC”) announced today that it received notification from the New York Stock Exchange (NYSE) on November 20, 2019, that the Company is no longer in compliance with NYSE continued listing criteria, which require listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period.
In accordance with NYSE rules, the Company has a period of six months from receipt of the notice to regain compliance with the NYSE’s minimum share price requirement, or until the Company’s next annual meeting of stockholders if stockholder approval is required to cure the share price non-compliance, as would be the case to effectuate a reverse stock split. Under NYSE rules, the Company’s common stock will continue to be listed and trade on the NYSE during this period, subject to the Company’s compliance with other NYSE continued listing requirements. The Company plans to notify the NYSE within 10 business days of receipt of the notification of its intent to cure the deficiency. The Company is in compliance with all other NYSE continued listing standard rules.
The Company intends to pursue measures to cure the share price non-compliance. The Company is considering its options, which include a reverse stock split of the Company’s common stock that would be subject to stockholder approval no later than at its next annual meeting of stockholders if such action is necessary to cure the share price non-compliance. The NYSE notification does not affect the Company’s business operations or its Securities and Exchange Commission reporting requirements, and it does not conflict with or cause an event of default under any of the Company’s material debt or other agreements.