Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it was notified by the New York Stock Exchange (“NYSE”) that the Company has regained compliance with the NYSE’s minimum share price standard for continued listing of its common stock.
On January 15, 2016, the Company announced that it had received notification from the NYSE that the trading price of the Company’s common stock, listed on the NYSE as “SB”, was not in compliance with the NYSE’s continued listing standard that requires a minimum average closing price of $1.00 per share over a period of 30 consecutive trading days.
As of the close of trading on May 31, 2016, the closing price of the Company’s common stock exceeded $1.00 per share and the average closing price of the Company’s common stock for the previous 30 trading days exceeded $1.00 per share. Accordingly, the Company has regained compliance with the NYSE continued listing requirements.