SandRidge Mississippian Trust I Announces Receipt of Notice from NYSE Regarding Continued Listing Standards
January 04 2019 - 4:15PM
Business Wire
SANDRIDGE MISSISSIPPIAN TRUST I (NYSE: SDT) (the “Trust”)
announced today 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 December 31,
2018, and on January 4, 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 common
stock has a closing price per share and a 30 trading-day average
closing share 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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version on businesswire.com: https://www.businesswire.com/news/home/20190104005485/en/
SandRidge Mississippian Trust IThe Bank of New York
Mellon Trust Company, N.A., as TrusteeSarah
Newell1(512) 236-6555
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