CALGARY, July 23, 2019 /PRNewswire/ - OBSIDIAN ENERGY LTD.
(TSX/NYSE – OBE) ("Obsidian Energy", the "Company",
"we", "us" or "our") received notification
from the New York Stock Exchange (the "NYSE") that we have
regained compliance with the NYSE's continued listing standard
regarding the price of Obsidian Energy's common shares.
The Company had received notification regarding the price
deficiency on September 18, 2018. In an effort to regain
compliance, the Company filed articles of amendment on June 5,
2019 to consolidate the common shares of the Company on the
basis of a consolidation ratio of seven old common shares to one
new common share (the "Common Share Consolidation"). At the
Annual and Special meeting the Common Share Consolidation was
approved by shareholders and commenced trading on a post
consolidation basis on June 10,
2019.
The NYSE continued listing standard requires that the average
closing price of a listed company's common stock be no less
than US$1.00 per share over a consecutive 30 trading day
period and close at or above US$1.00 per share on the
last trading day of the cure period to regain compliance. The
Company has been notified by the NYSE that it has cured the price
condition and regained compliance with all NYSE continued listing
requirements as of July 23, 2019 and will continue to trade on
the NYSE.
Obsidian Energy shares are listed on the Toronto Stock Exchange
and the New York Stock Exchange under the symbol "OBE".
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SOURCE Obsidian Energy Ltd.
