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MEXICO CITY, Feb. 08, 2016 -- Empresas ICA, S.AB. de C.V. (BMV:ICA) (NYSE:ICA), the largest infrastructure and construction company in Mexico, announced today that on January 8, 2016 it received notice from the New York Stock Exchange (NYSE) that ICA is no longer in compliance with the NYSE’s continued listing standards because the average closing price of ICA’s American Depositary Shares, or ADSs, over a consecutive 30 trading-day period was less than US$1.00 per share.
Under NYSE rules, ICA has six months following receipt of the notice to comply with the minimum share price requirement.
ICA has notified the NYSE of its intention to cure this deficiency within the prescribed timeframe. During the six-month cure period, the Company’s ADSs will continue to be listed and trade on the NYSE. The Company’s business operations are not affected by the receipt of this NYSE notice.
This press release contains projections or other forward-looking statements related to ICA that reflect ICA’s current expectations or beliefs concerning future events. Such forward-looking statements are subject to various risks and uncertainties and may differ materially from actual results or events due to important factors such as changes in general economic, business or political or other conditions in Mexico, Latin America or elsewhere, changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies, changes in tax and other laws affecting ICA’s businesses, increased costs, unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms and other factors set forth in ICA’s most recent filing on Form 20-F and in any filing or submission ICA has made with the SEC subsequent to its most recent filing on Form 20-F. All forward-looking statements are based on information available to ICA on the date hereof, and ICA assumes no obligation to update such statements.
Empresas ICA, S.A.B. de C.V. is Mexico's largest infrastructure company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, lCA is listed on the Mexican and New York Stock exchanges. For more information, visit ir.ica.mx.
For more information, please contact: Gabriela Orozco [email protected] [email protected] +(5255) 5272 9991 x 3012 Pablo Garcia Chief Financial Officer [email protected] In the US: Daniel Wilson, Zemi Communications +(1212) 689 9560 [email protected]
