Suzano hereby announces to its shareholders and the market in general that operation at Suzano Unit was normalized on June 4, 2016. Paper machines were shut down for safety reasons after a fire broke out at a storage area on the night of May 31, 2016. Pulp production was not impacted by this event. We reiterate that the pulp production unit and the paper machines did not suffer any damage. Losses from the fire are basically paper jumbo-rolls and the structure of the storage shed, all of which have insurance coverage.
Verso Corporation (NYSE: VRS) announced today that the New York Stock Exchange has notified Verso that it has fallen below the NYSE’s continued listing standard requiring that the average share price of Verso’s common stock be at least $1.00 over a consecutive 30-trading-day period. As of June 24, 2015, the date of the NYSE notification, the average closing price of Verso’s common stock over the past 30 consecutive trading days was $0.96 per share.
Verso intends to regain compliance with the NYSE’s continued listing standard by bringing the share price and the average share price of Verso’s common stock back to at least $1.00 within the required period of six months after receipt of the NYSE notification, i.e., by December 24, 2015. However, if Verso cannot cure the share price deficiency by such date, Verso intends to conduct a reverse stock split to facilitate achieving the $1.00 share price and average share price. In such case, as permitted by the NYSE’s rules, Verso would solicit stockholder approval of an appropriate amendment of its certificate of incorporation at its next annual stockholders meeting to be held in May 2016 and would effect the reverse stock split promptly thereafter.