Teekay Tankers Confirms Compliance with NYSE Continued Listing Standards
May 09 2019 - 4:07PM
Teekay Tankers Ltd. (Teekay Tankers or the Company)
(NYSE:TNK) announced today that on April 10, 2019, the Company was
notified by the New York Stock Exchange LLC (NYSE) that it was not
in compliance with the NYSE’s continued listing standards because
the average closing price of the Company's Class A common stock
over the consecutive 30 trading-day period at that time was less
than $1.00 per share.
Subsequently, as a result of the Company’s Class
A common stock price appreciation, on May 1, 2019, Teekay Tankers
was notified by the NYSE that the Company is again in compliance
with the NYSE’s continued listing standards because the average
share price over the 30 trading days ending, and its closing price
as of, April 30, 2019 was above $1.00 per share.
About Teekay Tankers
Teekay Tankers currently owns a fleet of 56
double-hull tankers, including 30 Suezmax tankers, 17 Aframax
tankers, and nine Long Range 2 (LR2) product tankers, and has six
contracted time charter-in tankers. In addition, the Company owns a
Very Large Crude Carrier (VLCC) through a 50 percent-owned joint
venture. Teekay Tankers’ vessels are employed through a mix of
short- or medium-term fixed rate time charter contracts and spot
tanker market trading. Teekay Tankers also owns a ship-to-ship
transfer business. Teekay Tankers was formed in December 2007 by
Teekay Corporation as part of its strategy to expand its
conventional oil tanker business.
Teekay Tankers’ common stock trades on the New
York Stock Exchange under the symbol “TNK.”
For Investor Relationsenquiries
contact:
Ryan HamiltonTel: +1 (604)
609-2963Website: www.teekay.com
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