Noranda receives continued listing standard notice from NYSE

Noranda Aluminum Holding Corporation announced today that it received written notice from the New York Stock Exchange (NYSE) on August 7, 2015 that the company is not in compliance with one of NYSE's continued listing standards because the average global market capitalization of its common stock over a 30 trading-day period was less than $50 million and, at the same time, stockholders equity was less than $50 million.

Under NYSE rules, the company must notify the NYSE, within 10 business days after receiving the notice, if it intends to submit a plan that will advise the NYSE of definitive action it has taken, or is taking, to bring it into conformity with the listing standard within 18 months of receipt of the notice. The company must provide such a plan within 45 days after receipt of the notice. If the company submits a plan and the NYSE accepts the plan, the shares of common stock of the company will continue to be listed on the NYSE during the 18-month plan period, subject to compliance with other NYSE continued listing standards and continued periodic review by the NYSE of the company's progress with respect to the plan. If a plan is not submitted, is not accepted or is accepted but the company does not make progress consistent with the plan during the plan period, the NYSE could proceed with suspension and delisting proceedings.

As previously reported, the company received a notice from NYSE that the company is not in compliance with one of the NYSE's continued listing standards because the average closing price of its common stock was less than $1.00 per share over a 30 consecutive trading day period. The company has called a special meeting of stockholders to be held on August 24, 2015, at which the stockholders will consider an amendment to the company's amended and restated certificate of incorporation that would, among other things, provide for a 1-for-7 reverse stock split.

The NYSE notification does not affect the company's business operations or its SEC reporting requirements, and does not conflict with, or cause, an event of default under any of the company's material debt or other agreements.