Flotek Receives Notice Regarding NYSE Listing Requirements
Flotek Industries has been notified by New York Stock Exchange Regulations, Inc. that it is not currently in compliance with one of the continued listing standards of the New York Stock Exchange (the "NYSE").
Flotek is considered below one listing criteria established by the NYSE because the Company's total market capitalization has been both less than $75 million over a consecutive 30 trading-day period and its last reported shareholder's equity was less than $75 million.
In accordance with NYSE procedures, Flotek has 45 days from the receipt of this notice to submit a plan to the NYSE to demonstrate its ability to achieve compliance with the NYSE's continued listing standards within 18 months. Flotek intends to submit a plan within the required timeframe and, if the plan is accepted by the NYSE, the Company will have 18 months to comply with this continued listing criteria.
During this time the Company's common stock will continue to be listed on the NYSE, subject to quarterly monitoring of compliance with the plan by the NYSE.
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