Hermitage Offshore Services Ltd. Announces Suspension of Trading from the NYSE and OTC Listing
Hermitage Offshore Services Ltd. Ordinary Shares (Bermuda) (PSV)
Company Research
Source: GlobeNewswire
HAMILTON, Bermuda, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Hermitage Offshore Services Ltd. (“Hermitage Offshore,” or the “Company”) announced today that it has received notification from the New York Stock Exchange (“NYSE”) that the Company’s common stock has been suspended from trading on the NYSE as it has fallen below the NYSE’s continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15,000,000. The suspension of trading does not affect the Company’s appeal rights with respect to the NYSE’s previously announced determination to commence delisting procedures with respect to the Company’s common stock. The hearing to review the delisting determination is scheduled to take place on December 17, 2020. Commensurate with the suspension of trading from the NYSE, the Company expects that its common stock will be quoted on the OTC Pink marketplace ("OTC Pink"), operated by the OTC Markets
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