Emerge Energy Services LP Receives Expected NYSE Notice Regarding Listing Standards
May 23 2019 - 4:31PM
Fort Worth, Texas
- May 23, 2019 - Emerge Energy Services LP (NYSE: EMES) (the
"Partnership") today announced that it received an expected
notification from the New York Stock Exchange ("NYSE") on May 17,
2019 that the Partnership is no longer in compliance with NYSE
continued listing criteria that require listed companies to
maintain an average closing share price of at least $1.00 over a
consecutive 30 trading-day period.
In accordance with NYSE rules, the
Partnership has a period of six months from receipt of the notice
to regain compliance with the NYSE's minimum share price
requirement, with the possibility of extension at the discretion of
the NYSE. Under NYSE rules, the Partnership's common units will
continue to be listed and traded on the NYSE during this period,
subject to the Partnership's compliance with other NYSE continued
listing requirements. Notwithstanding the foregoing, if the
Partnership's common units trade at an "abnormally low" price level
under NYSE rules or the 30-day average market capitalization for
the common units is below $15 million, the Partnership will be
delisted and the six month cure period discussed above will not be
available. The notice does not affect the Partnership's ongoing
business operations or its U.S. Securities and Exchange Commission
reporting obligations.
About Emerge Energy Services LP
Emerge Energy Services LP (NYSE:
EMES) is a limited partnership engaged in the business of mining,
producing, and distributing silica sand, a key input for the
hydraulic fracturing of oil and natural gas wells, through its
subsidiary Superior Silica Sands LLC.
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This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Emerge Energy Services LP via Globenewswire
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