Jones Energy, Inc. Announces Move to OTCQX®
November 26 2018 - 5:00PM
Jones Energy, Inc. (NYSE: JONE) (“Jones Energy” or “the Company”)
today announced that it will move trading in the Company’s Class A
common stock (the “Class A Shares”). The Class A shares will shift
to the OTCQX® from the New York Stock Exchange (“NYSE”) effective
at the close of trading on November 26, 2018 and will begin trading
on the OTCQX® upon the trading open on November 27, 2018. The move
will not interrupt the trading of Class A Shares.
As noted in the Company’s filings with the Securities and
Exchange Commission (“SEC”), Jones Energy became non-compliant with
the market capitalization requirement of the NYSE, which required
the Company to maintain a 30-trading day average global market
capitalization of at least $15 million. As such, the Company has
chosen to move its Class A Shares to the OTCQX®, which is the
highest market tier operated by the OTC Markets Group, Inc. and
provides the highest level of standards within the OTC Markets for
investors.
Jones Energy remains and intends to remain a publicly traded
company and will retain its ticker symbol “JONE”. The Company will
continue to make all required SEC filings and will remain subject
to SEC rules and regulations applicable to reporting companies
under the Securities Exchange Act of 1934, as amended. The Company
plans to maintain a majority independent Board of Directors with an
independent Audit Committee and to provide annual financial
statements audited by a Public Company Accounting Oversight Board
(PCAOB) independent registered public accounting firm and unaudited
interim financial reports prepared in accordance with U.S.
generally accepted accounting principles.
Jones Energy intends to apply to relist its Class A Shares on a
national stock exchange in the future upon meeting the applicable
initial listing standards of that exchange.
About Jones Energy
Jones Energy, Inc. is an independent oil and natural gas company
engaged in the exploration and development of oil and natural gas
properties in the Anadarko basin of Oklahoma and Texas. Additional
information about Jones Energy may be found on the Company’s
website at: www.jonesenergy.com.
Investor Contact:Page Portas, 512-493-4834Investor Relations
Associate
Forward-Looking StatementsThis 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 the Company expects,
believes or anticipates will or may occur in the future are
forward-looking statements. Without limiting the generality of the
foregoing, forward-looking statements contained in this press
release specifically include the Company’s intentions to remain a
publicly-traded company and to apply for relisting of its Class A
Shares on a national stock exchange in the future upon meeting
applicable listing standards. Any forward-looking statement
speaks only as of the date on which such statement is made and the
Company undertakes no obligation to correct or update any
forward-looking statement, whether as a result of new information,
future events or otherwise, except as required by applicable
law.