SAN ANTONIO, Dec. 29, 2017 (GLOBE NEWSWIRE) -- Harte Hanks (NYSE:HHS), a leader in developing customer relationships, experiences and defining interaction-led marketing, announced that its Board of Directors had adopted a 10-for-1 reverse split ratio for the reverse split approved by the Company’s stockholders at the special meeting held December 14, 2017. The reverse split will be effected January 31, 2018.
The Company also announced that on December 27, 2017, it received notification from the New York Stock Exchange (NYSE) that the Company is not in compliance with certain NYSE continued listing standards relating to average share price.
The NYSE noted that as of December 26, 2017, the Company’s average closing price was less than the $1.00 minimum over a consecutive 30 trading-day period. The company has six months to cure the non-compliance by bringing its share price and average share price back above $1.00, which will be accomplished when the 10-for-1 reverse split is implemented. In the event that after the six-month cure period, both a $1.00 share price and a minimum $1.00 30-day average share price are not attained the NYSE will commence suspension and delisting procedures.
During the cure period, Harte Hanks common stock will continue to be listed on the NYSE. The Company's common stock will continue to trade under the symbol "HHS," but will have an added symbol of ".BC" to indicate that the Company is below compliance with the NYSE’s listing standards.
About Harte Hanks:
Harte Hanks is a global marketing services firm specializing in multi-channel marketing solutions that connect our clients with their customers in powerful ways. Experts in defining, executing and optimizing the customer journey, Harte Hanks offers end-to-end marketing services including consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center. From visionary thinking to tactical execution, Harte Hanks delivers smarter customer interactions for some of the world's leading brands. Harte Hanks 5,000+ employees are located in North America, Asia-Pacific and Europe. For more information, visit Harte Hanks at www.hartehanks.com, call 800-456-9748, email us at email@example.com. Follow us on Twitter @hartehanks or Facebook at https://www.facebook.com/HarteHanks.