Rite Aid delays reverse split; buys time with NYSE
CAMP HILL, Pa. Rite Aid announced Monday morning that it has delayed effecting the company’s previously announced reverse stock split following the New York Stock Exchange’s recent temporary suspension of its minimum share price listing rule.
Stocks listed on the NYSE must maintain at least a $1-per-share price. The suspension provides Rite Aid with additional time and flexibility to regain compliance with the NYSE rule.
Rite Aid continues to be listed and traded on the NYSE. Rite Aid’s stock closed at $0.22 per share on Friday and the average closing price of Rite Aid’s stock over the past month is $0.25.
The NYSE announced that it is suspending application of its share price rule until June 30, which extends Rite Aid’s cure period to regain compliance. Per the rules of the recent suspension, Rite Aid can now regain compliance by achieving the required $1 closing share price and $1 average closing share price over the preceding 30 consecutive days on any of the following dates — April 16, April 30, May 29, June 30 and Aug. 17. Before the temporary suspension of the share price rule, Rite Aid’s cure period was to end on April 16.
Rite Aid announced plans for either a 1-for-10, 1-for-15 or 1-for-20 reverse stock split last year, after being notified by the NYSE that it was no longer in compliance with its minimum share price rule. Shareholders approved the reverse stock split Dec. 2.
Rite Aid’s board of directors will determine the exchange ratio and timing of the reverse stock split, if implemented, prior to or immediately following the end of the suspension period based on market conditions, the company’s share price and NYSE rules at such time.
“The Wrestler” to be released on Blu-Ray, DVD next month
CENTURY CITY, Calif. An unlikely hero’s story will be released on Blu-Ray and DVD next month.
Twentieth Century Fox Home Entertainment announced Friday that its critically-acclaimed film, The Wrestler, will be released nationwide April 21.
The film stars Mickey Rourke as pro wrestler Randy “The Ram” Robinson, a former superstar now paying the price for twenty years of grueling punishment in and out of the ring.
The Blu-Ray release of The Wrestler will include a digital copy”, and includes bonus features “Within the Ring” featurette, a “Wrestler Round Table”, and a music video of the film’s theme song, performed by Bruce Springsteen. The single-disc DVD will also feature the “Within the Ring” featurette and music video.
The Blu-Ray Disc will be available for a suggested retail price of $39.99. A single-disc DVD will also be available for the suggested retail price of $29.98. Prebook is March 11.
Study: Adults with arthritis and heart disease likely to be physically inactive
ATLANTA Arthritis may create an additional barrier to using physical activity to help people manage their heart disease, according to a study by the Centers for Disease Control and Prevention released last week.
The study said adults with both heart disease and arthritis are significantly more likely to be physically inactive than those with heart disease alone.
The study in the Morbidity and Mortality Weekly Report found that arthritis is common among those having heart disease — approximately 57% of adults with heart disease have arthritis.
In the study, about 29% of adults with arthritis and heart disease were inactive, compared to 21% of people with heart disease alone, 18% of those with arthritis and 11% of adults with neither condition.
“Engaging in regular physical activity can help reduce arthritis pain and improve joint function, which in turn can help people with heart disease get more active and better manage both conditions,” said Chad Helmick, a CDC medical epidemiologist and coauthor of the study.
The study, based on combined 2005 and 2007 Behavioral Risk Factor Surveillance System data, show that the prevalence of physical inactivity for adults with both heart disease and arthritis varied substantially from state to state — ranging from 20.5% in Colorado to 50.3% in Kentucky.
“Unfortunately, many people living with both arthritis and heart disease seldom or never exercise because they may be unsure about which activities are safe and worry about aggravating their joint or heart problems,” commented Janet Collins, director of CDC?s National Center for Chronic Disease Prevention and Health Promotion. “These fears are readily addressed by good information, consultation with their doctor, evidence-based programs, and strong social support.”
Nationwide, 14.1 million adults have heart disease. Inactive persons with heart disease who increase activity benefit from improved physical function and lowered blood pressure and blood cholesterol levels.