SALT LAKE CITY, April 23 /PRNewswire-FirstCall/ --
FranklinCovey (NYSE: FC) today announced that the New York Stock Exchange
("NYSE") has accepted the Company's proposed plan to comply with the NYSE's
continued listing standards. As a result, subject to the Company's realizing
certain interim and ongoing objectives as outlined in its plan, which will be
reviewed by the NYSE on a quarterly basis, FranklinCovey's common stock will
continue to be listed and traded on the NYSE.
On April 14, 2003, the Company announced that it had received notification
of non-compliance from the NYSE in regard to its stock price being below
$1.00 per share and having a market capitalization below the $15 million
minimum. The Company's submitted plan to achieve compliance to the NYSE
listing standards was reviewed by the NYSE last week and accepted by the NYSE
yesterday. The NYSE has extended to FranklinCovey a six-month period to
achieve the minimum $1.00 per share price and 18 months to exceed the minimum
market capitalization.
About FranklinCovey
FranklinCovey is a global leader in effectiveness training, productivity
tools, and assessment services for organizations and individuals.
FranklinCovey helps companies succeed by unleashing the power of their
workforce to focus and execute on top business priorities. Clients include
90 percent of the Fortune 100, more than 75 percent of the Fortune 500,
thousands of small and mid-sized businesses, as well as numerous government
entities and educational institutions. Organizations and individuals access
FranklinCovey products and services through corporate training, licensed
client facilitators, one-on-one coaching, public workshops, catalogs, over
170 retail stores, and http://www.franklincovey.com . More than 2,500 FranklinCovey
associates provide professional services and products in 39 offices and in
95 countries.
Safe-Harbor Statement
This announcement may contain forward-looking statements that necessarily
are based on certain assumptions and are subject to certain risks and
uncertainties, including unexpected adverse changes to the business of the
Company or the trading market for the Company's common stock that may cause
the NYSE to delist the common stock, the inability of the Company to achieve
the goals established by the plan presented to the NYSE, which may be affected
by a delay in the timing of the expected changes, the expected changes not
having the anticipated impact on the market for the Company's common stock, or
the materialization of one or more of the risks that the Company's business is
subject to, including general economic conditions, competition in the
Company's targeted market place, increases or decreases in the Company's
market share, growth or contraction of the overall market for the products
offered by the Company and its competitors, changes in the training and
spending policies of the Company's clients and other factors identified and
discussed in the Company's 2002 10-K report and subsequent 10-Q reports filed
with the Securities and Exchange Commission, many of which are beyond the
control or influence of the Company. There can be no assurance that the
Company's actual future performance will meet the targets established by the
plan submitted to the NYSE or that meeting such targets will have the expected
effect on the market for the Company's common stock.
SOURCE FranklinCovey
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Related links:
http://www.franklincovey.com
Company News On-Call:
http://www.prnewswire.com/comp/107086.html
CONTACT:
Richard R. Putnam, Investor Relations of
FranklinCovey, +1-801-817-1776
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