Amira Nature Foods Ltd Regains Compliance with NYSE Listing Requirements
DUBAI, United Arab Emirates--(BUSINESS WIRE)--Apr 2, 2019--Amira Nature Foods Ltd (the “Company”) (NYSE: ANFI), a global provider of packaged specialty rice, today announced that it has received notification from the New York Stock Exchange (the “NYSE”) that the Company has regained compliance with the NYSE’s continued listing standard regarding the price of Amira’s ordinary shares.
The Company had received notification regarding the price deficiency on November 16, 2018. The NYSE requires that the average closing price of a listed company’s shares be no less than US$1.00 per share over a consecutive 30 trading day period and close above US$1.00 per share on the last trading day of the month to regain compliance. The Company has been notified by the NYSE that is has cured the price condition and regained compliance with all NYSE continued listing requirements as of March 29, 2019.
Further information on the Company, including an updated investor presentation and other information, can be found on the Company’s website at www.amira.net.
About Amira Nature Foods
Founded in 1915, Amira has evolved into a global provider of packaged specialty rice, with sales in over 40 countries today. Amira sells Basmati rice, premium long-grain rice grown only in certain regions of the Indian sub-continent, under their flagship Amira brand as well as under other third party brands. Amira sells its products primarily in emerging markets through a broad distribution network. Amira’s headquarters are in Dubai, United Arab Emirates, and it also has offices in India, Germany, the United Kingdom, and the United States.
Cautionary Note on Forward-Looking Statements
This release contains forward-looking statements within the meaning of the U.S. federal securities laws. These forward-looking statements generally can be identified by phrases that we or our members of management use such as “believe,” “expect,” “anticipate,” “foresee,” “forecast,” “estimate” or other words or phrases of similar import. Specifically, these statements include, among other things, statements that describe our expectations for the global rice market, the financial impact of new sales contracts on our revenue, our expectations regarding the successful efforts of our distribution partners, and other statements of management’s beliefs, intentions or goals. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on our results of operations, financial condition, or the price of our ordinary shares. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to our continued listing on the New York Stock Exchange; our ability to perform our agreements with customers; our ability to recognize revenue from our contracts as planned; continued competitive pressures in the marketplace; our reliance on a few customers and distribution partners for a substantial part of our revenue; our ability to implement our plans, forecasts and other expectations with respect to our business and realize additional opportunities for growth; and the other risks and important considerations contained and identified in our filings with the Securities and Exchange Commission. All forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, we undertake no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events or otherwise.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190402005220/en/
CONTACT: Wendy Eguez
The Amira Group
KEYWORD: UNITED ARAB EMIRATES MIDDLE EAST
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE RETAIL FOOD/BEVERAGE SPECIALTY
SOURCE: Amira Nature Foods Ltd
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PUB: 04/02/2019 08:00 AM/DISC: 04/02/2019 08:01 AM