Emerge Energy Services LP Announces Suspension of Trading and Commencement of NYSE Delisting Procedures Due to Low Market Cap...
May 31 2019 - 5:48PM
Fort Worth, Texas
- May 31, 2019 - The New York Stock Exchange LLC ("NYSE")
announced today that the NYSE Regulation staff has determined to
commence proceedings to delist the common units representing
limited partner interests (the "common units") of Emerge Energy
Services LP (the "the Partnership") (NYSE: EMES) from the
NYSE. Trading in the Partnership's common units will be
suspended immediately.
NYSE Regulation reached its
decision to delist the common units pursuant to Section 802.01B of
the NYSE's Listed Company Manual because the Partnership has not
satisfied the NYSE's continued listing standard requiring listed
companies to maintain an average global market capitalization over
a consecutive 30 trading day period of at least $15,000,000.
The NYSE will apply to the
Securities and Exchange Commission to delist the common units upon
completion of all applicable procedures, The Partnership does not
intend to appeal the determination and, therefore, it is expected
that the common units will be delisted.
The Partnership anticipates that
effective June 3, 2019, the common units will commence trading
over-the-counter under the symbol "EMESZ". The Partnership
can provide no assurance that its common units will continue to
trade on this market, whether broker-dealers will continue to
provide public quotes of its common units on this market, or
whether the trading volume of its common units will be sufficient
to provide for an efficient trading market.
About Emerge Energy Services LP
Emerge Energy Services LP is a
limited partnership engaged in the business of mining, producing,
and distributing silica sand, a key input for the hydraulic
fracturing of oil and natural gas wells, through its subsidiary
Superior Silica Sands LLC.
PRESS CONTACT
Investor Relations
(817) 618-4020
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Emerge Energy Services LP via Globenewswire
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