FXCM Receives NYSE Notification Letter
(Thomson Reuters ONE) -
FXCM Inc. /
FXCM Receives NYSE Notification Letter
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The issuer is solely responsible for the content of this announcement.
NEW YORK, Sept. 9, 2015 (GLOBE NEWSWIRE) -- FXCM Inc. (NYSE:FXCM) ("The
Company") a leading online provider of foreign exchange (FX) trading and related
services, announced that it was notified on September 3, 2015 by the New York
Stock Exchange (" NYSE ") that it is not in compliance with the continued
listing standards set forth in Section 802.01C of the Listed Company Manual of
the New York Stock Exchange, Inc. because the average closing price of the
Company's common stock had fallen below $1.00 per share over a period of 30
consecutive trading days, which is the minimum average share price for continued
listing on the NYSE.
The Company has notified the NYSE that it intends to cure the deficiency and to
return to compliance with the NYSE continued listing requirement. Under NYSE
rules, the Company has six months following receipt of the notification to
regain compliance with the minimum share price requirement. The Company can
regain compliance at any time during the six-month cure period if the Company's
common stock has a closing share price of at least $1.00 on the last trading day
of any calendar month during the period and also has 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 or on the last day of the cure period.
The notice has no immediate impact on the listing of the Company's common stock,
which will continue to trade on the NYSE under the symbol "FXCM". At this time
The Company believes that neither the notice nor a possible future delisting
will have an impact on FXCM's business operation or its activities as an online
FX trading broker.
FXCM has already undertaken steps to cure the price condition by announcing, on
July 21, 2015, that the Company's Board of Directors approved a 1-for-10 reverse
stock split, to be voted on by shareholders on September 21, 2015, which would
likely, if approved and effected, bring the Company's stock price back within
compliance of Section 802.01C. The Company and Board of Directors believe that
effecting the reverse stock split is in the Company's and shareholders' best
interests and encourage all shareholders of record to vote in favor for the
reverse stock split as this could ensure the avoidance of a delisting.
Disclosure Regarding Forward-Looking Statements
Certain statements contained herein may constitute "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, Section 21E of
the Securities Exchange Act of 1934 and/or the Private Securities Litigation
Reform Act of 1995, which reflect FXCM's current views with respect to, among
other things, its operations and financial performance in the future. These
forward-looking statements are not historical facts and are based on current
expectations, estimates and projections about FXCM's industry, management's
beliefs and certain assumptions made by management, many of which, by their
nature, are inherently uncertain and beyond our control. Accordingly, readers
are cautioned that any such forward-looking statements are not guarantees of
future performance and are subject to certain risks, uncertainties and
assumptions that are difficult to predict including, without limitation, risks
associated with the events that took place in the currency markets on January
15, 2015 and their impact on FXCM's capital structure, risks associated with
FXCM's ability to recover all or a portion of any capital losses, risks relating
to the ability of FXCM to satisfy the terms and conditions of or make payments
pursuant to the terms of the credit agreement with Leucadia, risks related to
FXCM's dependence on FX market makers, market conditions, and those other risks
described under "Risk Factors" in FXCM Inc.'s Annual Report on Form 10-K and
other reports or documents FXCM files with, or furnishes to, the SEC from time
to time, which are accessible on the SEC website at sec.gov. This information
should also be read in conjunction with FXCM's Consolidated Financial Statements
and the Notes thereto contained in FXCM's Annual Report on Form 10-K, and in
other reports or documents the FXCM files with, or furnishes to, the SEC from
time to time, which are accessible on the SEC website at sec.gov.
About FXCM Inc.
FXCM Inc. (NYSE:FXCM) is a leading provider of online foreign exchange (forex)
trading, CFD trading, spread betting and related services. Our mission is to
provide global traders with access to the world's largest and most liquid market
by offering innovative trading tools, hiring excellent trading educators,
meeting strict financial standards and striving for the best online trading
experience in the market.
Clients have the advantage of mobile trading, one-click order execution and
trading from real-time charts. In addition, FXCM offers educational courses on
forex trading and provides free news and market research through DailyFX.com.
Trading foreign exchange and CFDs on margin carries a high level of risk, which
may result in losses that could exceed your deposits, therefore may not be
suitable for all investors. Read full disclaimer.
Visit www.fxcm.com and follow us on Twitter (at)FXCM, Facebook FXCM, Google+ FXCM
or YouTube FXCM.
CONTACT: FXCM Inc.
Jaclyn Klein, 646-432-2463
Vice-President, Corporate Communications
jklein(at)fxcm.com
investorrelations(at)fxcm.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: FXCM Inc. via GlobeNewswire
[HUG#1950907]
Unternehmensinformation / Kurzprofil:
Datum: 09.09.2015 - 22:29 Uhr
Sprache: Deutsch
News-ID 419065
Anzahl Zeichen: 6703
contact information:
Town:
New York
Kategorie:
Business News
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