OREANDA-NEWS. Mechel OAO (MICEX:MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports receiving notice from the New York Stock Exchange (NYSE) that Mechel OAO’s American Depositary Receipts (ADRs) are compliant with the listing’s standards requiring that an ADR’s average closing price over 30 consecutive trading days must not be lower than 1 US dollar.

On August 19, 2015, Mechel OAO received an official NYSE notice that the company’s ADRs were no longer compliant with the NYSE listing’s standards requiring that an ADR’s average closing price over 30 consecutive trading days must not be lower than 1 US dollar. The company’s ADRs were assigned a <.BC> suffix.

On December 29, 2015, the company announced a ratio change to its ADR program from one (1) ADR per one (1) ordinary share to one (1) ADR per two (2) ordinary shares.

On January 12, 2016 the ratio change took effect, and the price per ADR totaled US$1.53. During January’s last trading session, on January 29, 2016, the closing price for Mechel’s common share ADRs was 2 US dollars, and the average closing price over the last 30 trading sessions amounted to $ 1.10 per ADR.

On February 1, 2016, the company received official confirmation from the NYSE that its common-share ADRs were compliant with the listing’s standards. The <.BC> suffix will be removed by the NYSE.