PEKIN, Ill., Dec. 22, 2008 (GLOBE NEWSWIRE) -- Aventine Renewable Energy Holdings, Inc. (NYSE:AVR), a leading producer, marketer and end-to-end provider of clean renewable energy (the "Company"), today announced that on December 17, 2008, the Company received notification from the New York Stock Exchange (the "NYSE") that the Company had fallen below one of the NYSE continued listing standards which, among other things, requires a minimum average closing price of $1.00 per share over 30 consecutive trading days.
The Company has a period of six months, subject to possible extension, to bring its average share price back above $1.00. Under the NYSE rules, the Company's common stock will continue to be listed on the NYSE during the cure period, subject to the Company's compliance with other NYSE continued listing requirements. The Company plans to notify the NYSE that it intends to cure the deficiency.
The Company's business operations, Securities and Exchange Commission reporting requirements, credit agreements and other debt obligations are unaffected by this notification.
About Aventine
Aventine is a leading producer, marketer and end-to-end distributor of ethanol to many leading energy companies in the United States. Aventine is also a marketer and distributor of biodiesel. In addition to ethanol, Aventine also produces distillers grains, corn gluten meal, corn gluten feed, corn germ and brewers' yeast. Our internet address is www.aventinerei.com.
Forward Looking Statements
Certain information included in this press release may be deemed to be "forward looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release, are forward looking statements. Any forward looking statements are not guarantees of Aventine's future performance and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward looking statements. Aventine disclaims any duty to update any forward looking statements.
