American Retirement Corporation Satisfies NYSE Continued Listing Compliance.Business Editors NASHVILLE, Tenn.--(BUSINESS WIRE)--June 7, 2004 American Retirement Corporation (NYSE NYSE See: New York Stock Exchange : ACR See riser card. ), a leading national provider of senior living housing and care, announced today that the Company received notification from the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. ("NYSE") that the Company is now considered a "company in good standing" under the NYSE's continued listing standards and will be removed from its "Watch List". The NYSE's decision comes as a result of the Company's consistent positive performance with respect to its business plan submitted to the NYSE in March 2003, and the Company's satisfaction of the alternate NYSE's continued listing criteria by achieving $117 million of market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. based on the 30 trading days In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. ended June 4, 2004. The Company will be subject to a 12-month follow-up period to ensure that it remains in compliance with the NYSE's continued listing standards, and will also be subject to its routine monitoring procedures. "This is symbolic of the significant improvement we have made in the last two years in both operations and our capital structure," said Bill Sheriff, Chairman, President and Chief Executive Officer. "The NYSE financial compliance staff was very supportive, and we appreciate the cooperation extended to us." COMPANY PROFILE American Retirement Corporation is a national senior living and health care services provider offering a broad range of care and services to seniors, including independent living, assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. , skilled nursing and Alzheimer's care. Established in 1978, the Company believes that it is a leader in the operations and management of senior living communities, including independent living communities, continuing care continuing care a professional convention that a veterinarian who is treating an animal is obliged to continue treating that case unless an arrangement is made with its custodian to transfer the care to another practitioner or to a specialist. retirement communities, free-standing assisted living communities, and the development of specialized care programs for residents with Alzheimer's and other forms of dementia. The Company currently operates 66 senior living communities in 14 states, with an aggregate unit capacity of approximately 13,000 units and resident capacity of approximately 14,600. The Company owns 19 communities, leases 41 communities, and manages six communities pursuant to management agreements. |
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