24th Apr 2020 18:07
(Alliance News) - TransGlobe Energy Corp on Thursday said it was warned by the New York Stock Exchange that its 30-day average closing price has lagged below the USD1.00 minimum.
The USD1.00 price is the minimum needed to maintaining a listing on the NYSE, TransGlobe explained.
TransGlobe added: "The company has been provided with a compliance period of 180 calendar days from the date of notification in which to regain compliance with the minimum bid requirement.
"Additionally, due to the ongoing volatility in the world financial markets, Nasdaq has determined to toll the compliance period for the minimum bid requirement through June 30, 2020, and as a result, the company has until December 28, 2020 to regain compliance."
Shares in the company closed untraded in London at 35.25 pence each.
By Eric Cunha; ericcunha@alliancenews.com
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