CINCINNATI--(BUSINESS WIRE)--Milacron Inc. (NYSE: MZ) has been informed by the New York Stock Exchange that its trading system does not accommodate transactions in fractions of one cent and it has decided to halt NYSE trading of sub-penny eligible securities, including Milacron common stock.
Milacron’s common stock continues to be actively quoted and traded on other markets, including Nasdaq and NYSE Arca (formerly Archipelago Exchange and the Pacific Exchange) and by broker-dealers and electronic communication networks, which are capable of sub-penny quoting and trading in eligible securities as provided by SEC Rule 612, which became effective today. Collectively, these other markets have accounted for approximately half of MZ’s trading volume in recent months.
Milacron’s common stock remains listed on the New York Stock Exchange. On February 23, the company announced a proposal for a one-for-ten reverse split of its common stock to be voted on by shareholders at the annual meeting scheduled for May 2. If the share price of MZ rises above $1.00, as a result of the reverse split or for any other reason, the stock will no longer be eligible for sub-penny trading, and the NYSE could resume quoting and trading it.
First incorporated in 1884, Milacron is a leading global supplier of plastics-processing technologies and industrial fluids, with major manufacturing facilities in North America, Europe and Asia. For further information, visit www.milacron.com or call the toll-free investor line: 800-909-MILA (800-909-6452).