NYSE to Commence Delisting Proceedings Against Regis Corporation (RGS)

The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Regis Corporation (the “Company”) — ticker symbol RGS — from the NYSE.

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Retrieved on: 
Wednesday, December 13, 2023
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Other Professional Services, Professional Services, Finance, NYSE Listed Company Manual, RGS, Committee, Regis Corporation, New York Stock Exchange, NYSE, Security (finance)
Geotags: 
NEW YORK, UNITED STATES, NORTH AMERICA
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NYSE REGULATION
Summary
Key Points: 
  • The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Regis Corporation (the “Company”) — ticker symbol RGS — from the NYSE.
  • NYSE Regulation has determined that the Company is no longer suitable for listing pursuant to Section 802.02 of the Listed Company Manual as the Company was unable to demonstrate that it had regained compliance with the applicable listing standard by the expiration of the maximum plan period.
  • The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange (the “Committee”).
  • After the suspension announcement, the NYSE would then apply to the Securities and Exchange Commission to delist the common stock.


The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Regis Corporation (the “Company”) — ticker symbol RGS — from the NYSE.

NYSE Regulation has determined that the Company is no longer suitable for listing pursuant to Section 802.02 of the Listed Company Manual as the Company was unable to demonstrate that it had regained compliance with the applicable listing standard by the expiration of the maximum plan period. The Company had previously been deemed below compliance with the NYSE’s continued listing standard in Section 802.01B of the Listed Company Manual requiring listed companies to maintain either (i) at least $50 million in stockholders’ equity or (ii) at least $50 million in total market capitalization on a 30-trading day average basis.

The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange (the “Committee”). The NYSE will announce a suspension date at such time as i) the Company does not request a review by the Committee within 10 business days of this notice, ii) the Company determines that it does not intend to appeal, iii) the subsequent review of the Committee determines that the Company should be suspended, or iv) there are other material developments. After the suspension announcement, the NYSE would then apply to the Securities and Exchange Commission to delist the common stock.

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