Pacific Drilling Announces Receipt of Notice of Noncompliance from the New York Stock Exchange
Pacific Drilling S.A. Common Shares (PACD)
US:NYSE Investor Relations:
pacificdrilling.com/investor-relations/events-and-presentations/default.aspx
Company Research
Source: Business Wire
LUXEMBOURG--(BUSINESS WIRE)--On April 7, 2020, Pacific Drilling S.A. (NYSE: PACD) (“Pacific Drilling” or the “Company”) received notice from the New York Stock Exchange (the “NYSE”) stating that the Company does not currently satisfy the minimum share price standard for continued listing of the Company’s common shares. Specifically, on April 6, 2020, the 30-trading-day average closing price per share of the Company’s common shares was below $1.00, the minimum average share price required for continued listing on the NYSE under Section 802.01C of the NYSE Listed Company Manual.Under NYSE rules, the Company has six months following receipt of the notification to regain compliance with this continued listing standard and avoid delisting. As required by NYSE rules, the Company will notify the NYSE that it intends to cure the share price deficiency and is considering all available options to return to compliance. The Company can regain compliance at any time during the six-month cure p
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