ECA Marcellus Trust I Announces Receipt of Notice from NYSE Regarding Continued Listing Standards
November 25 2019 - 8:30AM
Business Wire
ECA MARCELLUS TRUST I (NYSE: ECT) today announced that it has
received a notice from the New York Stock Exchange (“NYSE”) that
the Trust has fallen below the NYSE continued listing requirement
that the average closing price of the Trust’s units of beneficial
interest be at least $1.00 per share, calculated over a period of
30 consecutive trading days. The Trust received the deficiency
notice from the NYSE on November 21, 2019, and on November 25,
2019, the Trust acknowledged receipt of the notice.
Under the NYSE standards, the Trust can avoid delisting if,
during the six-month period following receipt of the NYSE notice,
on the last trading-day of any calendar month, the Trust’s units of
beneficial interest have a closing price per unit and a 30
trading-day average closing unit price of at least $1.00. The Trust
has no control at all over the trading price of the units, and does
not intend to attempt to cause a reverse split of the units or
other action in an effort to affect the trading price of the
units.
During this period, the Trust’s units will continue to be traded
on the NYSE, subject to compliance with other continued listing
requirements.
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ECA Marcellus Trust I The Bank of New York Mellon
Trust Company, N.A., as Trustee Sarah Newell 1(512)
236-6555
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