Alpha shares dip below NYSE standard

ALPHA Natural Resources has been notified by the New York Stock Exchange that its common stock did not satisfy one of the NYSE's standards for continued listing and trading on the exchange.

Lou Caruana

The NYSE requires that the average closing price of a listed company's common stock be at least $1.00 per share over any period of 30 consecutive trading days. As of April 13, 2015, the average closing price per share of the company's common stock over the preceding 30 trading-day period was $0.99.

“In response, as required by the NYSE's rules, the company plans to notify the NYSE of its intent to cure the deficiency and restore its compliance, and it will submit a plan outlining the actions it intends to take to do so,” Alpha said in a statement.

Under the NYSE's rules, the company has six months to regain compliance with the listing standards.

The company's common stock will continue to be listed and traded on the NYSE during this period, subject to its compliance with other continued listing standards.

“The deficiency does not affect the company's business operations or its Securities and Exchange Commission reporting requirements,” Alpha said.