Natuzzi play ahead of the game to avoid delisting: market quotation at Wall Street is safe. Next board to discuss buyback

Natuzzi Group have successfully prevented the risk of delisting at the New York Stock Exchange: Wall Street’s monitoring committee observed, on 28 February 2019, that the average price of Natuzzi stock, over thirty straight days, exceeded one dollar per share. At present, the market price of each single share is around 5.60 US dollars. Very good news then for the upholstery furnishings multinational corporation, headquartered in the Apulian region: the financial strategy, implemented by the board led by Pasquale Natuzzi, proved effective. According to such strategy, the group opted for the concentration of American Depositary Receipts (ADR), that is, negotiable certificates of title to a few shares in a non-US company, listed at the New York Stock Exchange. On 26 December 2018, the company’s headquarters, based in Santeramo, received an alert notice: the NYSE informed the group about their non-compliance with the continuous listing standards, while requiring, at the same time, a suitable guarantee to keep a minimum average closing price, that is, one dollar per share. On March 1, 2019, the NYSE sent a confirmation message to inform Natuzzi Group that they are now compliant again with the continuous listing standards. The Italian group should have been under surveillance until 26 June 2019: they played ahead of the game to achieve a positive accomplishment much prior to the due term. Natuzzi Group are now scheduling their next board meeting, on the agenda at the end of April 2019: during the meeting, they are also going to discuss the buyback program, which aims to buy shares back.

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