LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--Jun. 2, 2009--
ACCO Brands Corporation (NYSE: ABD), a world leader in select categories
of branded office products, announced today that it has been notified by
the New York Stock Exchange (“NYSE”) that, based upon amended NYSE
listing standards effective retroactively to May 12, 2009, the company
has returned to compliance with the continued listing standards of the
NYSE.
The NYSE has amended certain of its numeric continued listing standards,
at least temporarily, to require a 30 day average market capitalization
of not less than $50 million (previously $75 million) or total
shareholders’ equity of not less than $50 million (previously $75
million). More information is available concerning the NYSE rule change
at www.nyse.com.
The NYSE has deemed the company to be in compliance because its total
market capitalization is above the new $50 million requirement.
As previously announced, the company was notified by the NYSE on March
30, 2009 that it had fallen below then current criteria because its
total market capitalization had been less than $75 million over a
consecutive 30 trading-day period and its last reported shareholders’
equity was less than $75 million. As of the effective date, May 12,
2009, the company’s average market capitalization for the previous
consecutive 30 trading-day period was $105 million.
About ACCO Brands Corporation
ACCO Brands Corporation is a world leader in select categories of
branded office products. Its industry-leading brands include Day-Timer®,
Swingline®, Kensington®, Quartet®, GBC®, Rexel, NOBO, and Wilson Jones®,
among others. Under the GBC brand, the company is also a leader in the
professional print finishing market.
Forward-Looking Statements
This press release contains statements which may constitute
"forward-looking" statements as that term is defined in the Private
Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to certain risks and
uncertainties, are made as of the date hereof and the company assumes no
obligation to update them. ACCO Brands' ability to predict results or
the actual effect of future plans or strategies is inherently uncertain
and actual results may differ from those predicted depending on a
variety of factors, including but not limited to fluctuations in cost
and availability of raw materials; our ability to remain in compliance
with our financial ratio covenants; competition within the markets in
which the company operates; the effects of both general and
extraordinary economic, political and social conditions, including
continued volatility and disruption in the capital and credit markets;
the effect of consolidation in the office products industry; the
continued liquidity and solvency of our major customers; our ability to
access the capital and credit markets; the dependence of the company on
certain suppliers of manufactured products; the risk that targeted cost
savings and synergies from previous business combinations may not be
fully realized or take longer to realize than expected; our ability to
successfully sell the Commercial Print Finishing business; future
goodwill and/or impairment charges; foreign exchange rate fluctuations;
the development, introduction and acceptance of new products; the degree
to which higher raw material costs, and freight and distribution costs,
can be passed on to customers through selling price increases and the
effect on sales volumes as a result thereof; increases in health care,
pension and other employee welfare costs; as well as other risks and
uncertainties detailed from time to time in the company's SEC filings.
Source: ACCO Brands Corporation
ACCO Brands Corporation
Rich Nelson
Media Relations
(847)
484-3030
or
Jennifer Rice
Investor Relations
(847)
484-3020
