KEMET Statement Regarding New York Stock Exchange
Greenville, South Carolina (November 4, 2008) - On October 29, 2008, KEMET Corporation (NYSE:KEM) was notified by the New York Stock Exchange (NYSE) that the company had fallen below the NYSE's continued listing standard
relating to minimum share price. Section 802.01C of the NYSE's listed
Company Manual requires that a company's common stock have a minimum average closing price of $1.00 during a consecutive 30-day trading period.
Under the above-mentioned rules, the company has ten business days to notify the NYSE of its intent to cure this deficiency and six months to cure it or be subject to suspension and delisting. KEMET will notify the NYSE in the required period of time that it intends to cure the deficiency.
Under the NYSE rules, KEMET's common stock will continue to be listed on the NYSE during the six month cure period, subject to compliance with other NYSE continued listing requirements. Although KEMET intends to cure the deficiency and return to compliance with the NYSE continued listing requirements, there can be no assurance that it will be able to do so.
KEMET Corporation (KEM) applies world-class service and quality to deliver industry-leading, high-performance capacitance solutions to its customers
around the world. KEMET offers the world's most complete line of
surface-mount and through-hole capacitor technologies across tantalum, ceramic, film, aluminum, electrolytic, and paper dielectrics. KEMET's common stock is listed on The New York Stock Exchange under the symbol KEM.
Additional information about KEMET can be found at www.kemet.com .
Contact:
William M. Lowe, Jr.
Executive Vice President and
Chief Financial Officer
864-963-6484
billlowe@kemet.com
Dean W. Dimke
Director of Corporate and
Investor Communications
954-766-2806
deandimke@kemet.com
