New York Stock Exchange Suspends Trading of Whiting USA Trust I Units; Trust Expects Trading to Move to OTC
13 Fevereiro 2015 - 7:00PM
Business Wire
Whiting USA Trust I (NYSE: WHX) today announced that the Trust
units would cease trading on the New York Stock Exchange (the
“NYSE”) effective before market open on February 17, 2015. The NYSE
informed the Trust today that the Trust was not in compliance with
the NYSE’s continued listing standards, which requires that the
average closing price of the Trust units cannot be less than $1.00
per share over a period of 30 consecutive trading days. Under the
NYSE delisting procedures, the Trust has the right to appeal such
decision, but the Trust does not intend to do so. The Trust expects
the Trust units to transition to OTC Pink, operated by OTC Markets
Group, effective with the opening of trading on February 17, 2015.
However, there is no assurance that an active market in the Trust
units will develop on OTC Pink.
This press release contains forward-looking statements,
including all statements made in this press release other than
statements of historical fact. No assurances can be given that such
statements will prove to be correct. Whether a market in the Trust
units develops is affected by factors outside of the control of the
Trust or Whiting, including actions of market participants, among
others. Statements made in this press release are qualified by the
cautionary statements made in this press release. The Trustee does
not intend, and assumes no obligation, to update any of the
statements included in this press release.
Whiting USA Trust IThe Bank of New York Mellon Trust
Company, N.A., as TrusteeMike Ulrich,
512-236-6599http://whx.investorhq.businesswire.com/
W H X (NYSE:WHX)
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