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NYSE to commence delisting of Pengrowth Energy

Staff Writer |
The New York Stock Exchange (NYSE) announced that the staff of NYSE Regulation has determined to commence proceedings to delist the common shares of Pengrowth Energy Corporation (PGH) from the NYSE.

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Trading in the company’s common stock was suspended after the market close on the NYSE on June 1, 2018.

NYSE Regulation reached its decision to delist the common shares pursuant to Listed Company Manual Section 802.01C, as the Company had fallen below the NYSE’s continued listing standard for average closing price of less than $1.00 over a consecutive 30 trading-day period and failed to cure this non-compliance within the required timeframe.

The company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange.

The NYSE will apply to the Securities and Exchange Commission to delist the common shares upon completion of all applicable procedures, including any appeal by the company of the NYSE Regulation staff’s decision.

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