Kosmos Energy Receives Continued Listing Standard Notice From NYSE
April 23 2020 - 2:00AM
Business Wire
Kosmos Energy (NYSE: KOS) (LSE: KOS) (“Kosmos” or the “Company”)
announced today that on April 20, 2020, it received formal notice
from the New York Stock Exchange ("NYSE") that the average closing
price of the Company's common stock over the prior 30-consecutive
trading day period was below $1.00 per share, which is the minimum
average share price required to maintain listing on the NYSE.
Kosmos has notified the NYSE of its intention to return to
compliance with the NYSE listing requirements within the six-month
cure period. Under the NYSE rules, the Company can regain
compliance at any time during the six-month cure period if, on the
last trading day of any calendar month during the cure period, its
common stock has a closing share price of at least $1.00 and an
average closing share price of at least $1.00 over the 30
trading-day period ending on the last trading day of that month.
Kosmos is considering options to regain compliance, which may
include a reverse stock split, if necessary. During the cure
period, Kosmos’ shares of common stock will continue to trade on
the NYSE.
The NYSE notification does not affect Kosmos’ ongoing business
operations or its Securities and Exchange Commission reporting
requirements, nor does it trigger any violation of its debt
obligations.
About Kosmos Energy
Kosmos is a full-cycle deepwater independent oil and gas
exploration and production company focused along the Atlantic
Margins. Our key assets include production offshore Ghana,
Equatorial Guinea and U.S. Gulf of Mexico, as well as a world-class
gas development offshore Mauritania and Senegal. We also maintain a
sustainable exploration program balanced between proven basin
infrastructure-led exploration (Equatorial Guinea and U.S. Gulf of
Mexico), emerging basins (Mauritania, Senegal and Suriname) and
frontier basins (Cote d'Ivoire, Namibia, Sao Tome and Principe and
South Africa). Kosmos is listed on the New York Stock Exchange and
London Stock Exchange and is traded under the ticker symbol KOS. As
an ethical and transparent company, Kosmos is committed to doing
things the right way. The Company’s Business Principles articulate
our commitment to transparency, ethics, human rights, safety and
the environment. Read more about this commitment in the Kosmos 2018
Corporate Responsibility Report. For additional information, visit
www.kosmosenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements,
other than statements of historical facts, included in this press
release that address activities, events or developments that Kosmos
expects, believes or anticipates will or may occur in the future
are forward-looking statements. Kosmos’ estimates and
forward-looking statements are mainly based on its current
expectations and estimates of future events and trends, which
affect or may affect its businesses and operations. Although Kosmos
believes that these estimates and forward-looking statements are
based upon reasonable assumptions, they are subject to several
risks and uncertainties and are made in light of information
currently available to Kosmos. When used in this press release, the
words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will”
or other similar words are intended to identify forward-looking
statements. Such statements are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of
Kosmos, which may cause actual results to differ materially from
those implied or expressed by the forward-looking statements.
Further information on such assumptions, risks and uncertainties is
available in Kosmos’ Securities and Exchange Commission (“SEC”)
filings. Kosmos undertakes no obligation and does not intend to
update or correct these forward-looking statements to reflect
events or circumstances occurring after the date of this press
release, except as required by applicable law. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20200422006028/en/
Investor Relations Jamie Buckland +44 (0) 203 954 2831
jbuckland@kosmosenergy.com
Media Relations Thomas Golembeski +1-214-445-9674
tgolembeski@kosmosenergy.com
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