-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ERrctGjgkZXZm+pakeiW7v6tAF2a6C/3bIDvUEaxIRrEmMKuLKR/mCQVRYV2UQkV 848iqllL+3Hm4w7s1yHkhA== 0000950152-08-009529.txt : 20081120 0000950152-08-009529.hdr.sgml : 20081120 20081120170038 ACCESSION NUMBER: 0000950152-08-009529 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20081114 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20081120 DATE AS OF CHANGE: 20081120 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VISTEON CORP CENTRAL INDEX KEY: 0001111335 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 383519512 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15827 FILM NUMBER: 081204454 BUSINESS ADDRESS: STREET 1: ONE VILLAGE CENTER DRIVE CITY: VAN BUREN TOWNSHIP STATE: MI ZIP: 48111 BUSINESS PHONE: 800-847-8366 MAIL ADDRESS: STREET 1: ONE VILLAGE CENTER DRIVE CITY: VAN BUREN TOWNSHIP STATE: MI ZIP: 48111 8-K 1 k47008e8vk.htm FORM 8-K FORM 8-K
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 14, 2008
VISTEON CORPORATION
(Exact name of registrant as specified in its charter)
         
Delaware   1-15827   38-3519512
         
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)
         
One Village Center Drive, Van Buren Township, Michigan   48111
     
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code (800)-VISTEON
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
Item 9.01. Financial Statements and Exhibits
SIGNATURE
EXHIBIT INDEX
EX-99.1


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SECTION 3 — SECURITIES AND TRADING MARKETS
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
     On November 14, 2008, Visteon Corporation (the “Company”) was notified by the New York Stock Exchange (the “NYSE”) that the Company had fallen below the NYSE’s continued listing standard relating to minimum share price. Rule 802.01C of the NYSE’s Listed Company Manual requires that the Company’s common stock have a minimum average closing price of not less than $1.00 during a consecutive 30 trading-day period.
     The Company will notify the NYSE that it intends to cure the deficiency. The Company must bring its share price and average share price back above $1.00 within six months from the receipt of the NYSE notice to regain compliance with the NYSE’s price condition, or it will be subject to suspension and delisting procedures. 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.
SECTION 9 — FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01. Financial Statements and Exhibits.
     
Exhibit No.   Description
99.1
  Press release dated November 20, 2008

 


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SIGNATURE
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  VISTEON CORPORATION
 
 
Date: November 20, 2008  By:   /s/ John Donofrio    
    John Donofrio   
    Senior Vice President and General Counsel   

 


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- 4 - 
         

EXHIBIT INDEX
         
Exhibit No.   Description   Page
 
Exhibit 99.1   Press Release dated November 20, 2008    

 

EX-99.1 2 k47008exv99w1.htm EX-99.1 EX-99.1
EXHIBIT 99.1
     
NEWS RELEASE   (VISTEON LOGO)
Visteon receives continued listing standards notice from NYSE
VAN BUREN TOWNSHIP, Mich., Nov. 20, 2008 — Visteon Corporation (NYSE:VC) announced today that on Nov. 14, 2008, Visteon received notification from the New York Stock Exchange (the “NYSE”) that the company had fallen below its continued listing standard, which requires a minimum average closing price of $1.00 per share over 30 consecutive trading days.
Visteon plans to notify the NYSE that it intends to cure the deficiency. The company has a period of six months to bring its average share price back above $1.00. Under NYSE rules, Visteon’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.
Visteon’s business operations, Securities and Exchange Commission reporting requirements, credit agreements and other debt obligations are not otherwise affected by this notification.
Visteon is a leading global automotive supplier that designs, engineers and manufactures innovative climate, interior, electronic and lighting products for vehicle manufacturers, and also provides a range of products and services to aftermarket customers. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Kerpen, Germany; the company has facilities in 27 countries and employs approximately 35,500 people.
Forward-looking Information
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various factors, risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, including general economic conditions, changes in interest rates and fuel prices; the automotive vehicle production volumes and schedules of our customers; work stoppages at our customers; our ability to satisfy our future capital and liquidity requirements and comply with the terms of our existing credit agreements and indentures; the financial distress of our suppliers, or other significant suppliers to our customers, and possible disruptions in the supply of commodities to us or our customers due to financial distress or work stoppages; our ability to timely implement, and realize the anticipated benefits of restructuring and other cost-reduction initiatives, including our multi-year improvement plan, and our successful execution of internal performance plans and other productivity efforts; the timing and expenses related to restructurings, employee reductions, acquisitions or dispositions; increases in raw material and energy costs and our ability to offset or recover these costs; the financial condition of our customers and the effects of reorganization, consolidation and/or restructuring plans that may be announced by our customers; the effect of pension and other post-employment benefit obligations; increases in our warranty, product liability and recall costs; the outcome of legal or regulatory proceedings to which we are or may become a party; our ability to meet the continued listing standards of the New York Stock Exchange; as well as those factors identified in our filings with the SEC (including our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2007). We assume no obligation to update these forward-looking statements.

 


 

###
Visteon news releases, photographs and product specification details are available at www.visteon.com
Contacts:
     
Media:   Investors:
Jim Fisher   Steven Ward
734-710-5557   734-710-5800
jfishe89@visteon.com   sward8@visteon.com

 

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