São Paulo, March 03, 2016 – Companhia Siderúrgica Nacional (the “Company”) announces that, on March 1, 2016 it received notice from the New York Stock Exchange (“NYSE”) informing that the Company has successfully regained compliance with the NYSE´s continued listing standard that requires a minimum average closing price of $1 per share over 30 consecutive trading days.
On February 22, 2016, the Company informed the market that it was notified by the NYSE that the price of the Company´s American Depositary Shares (“ADSs”), each representing one common share of the Company, had fallen below the NYSE´s minimum share price continued listing standard and that the Company had six months to resume compliance in order to continue trading on the NYSE.
At the close of trading on February 29, 2016, however, the average closing price of the Company´s ADSs for the previous 30 trading days was above $1.00 per ADS. Accordingly, CSN is now in full compliance with NYSE´s listing standards.
