Business
Obsidian Energy Receives Continued Listing Standard Notification from the New York Stock Exchange Regarding the Price of Its Common Stock
Obsidian Energy Receives Continued Listing Standard Notification from the New York Stock E...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"\n\n\n\nObsidian Energy Receives Continued Listing Standard Notification from the New York Stock Exchange Regarding the Price of Its Common Stock\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Sept. 15, 2017\n\n\n\nCALGARY, Sept. 15, 2017 /CNW/ - OBSIDIAN ENERGY LTD. (TSX/NYSE - OBE) (\"Obsidian Energy\", \"we\", \"us\" or \"our\") announces that it received notification on September 14, 2017 from the New York Stock Exchange (the \"NYSE\") that Obsidian Energy is no longer in compliance with one of the NYSE's continued listing standards applicable to Obsidian Energy because the average closing price of Obsidian Energy's common stock was less than US$1.00 per share over a consecutive 30 trading day period.  As of September 12, 2017, the average closing price of Obsidian Energy's common stock over the preceding consecutive 30 trading day period was US$0.99 per share.  The issuance by the NYSE of the notification is not discretionary and is sent automatically when a listed company's stock price falls below the NYSE's minimum price listing standard.  \n\nNon-compliance with the NYSE's price listing standard does not affect Obsidian Energy's business operations or its reporting requirements to the U.S. Securities and Exchange Commission (the \"SEC\"), nor does it breach or cause an event of default under any of Obsidian Energy's agreements with its lenders.  Obsidian Energy continues to be in compliance with the terms of all of those agreements.  In addition, non-compliance with the NYSE price listing standard does not affect the continued listing and trading of Obsidian Energy's common shares on the Toronto Stock Exchange (the \"TSX\").\n\nUnder the NYSE's rules, Obsidian Energy can avoid delisting if, within six months from the date of the NYSE notification, its common stock has a closing price on the last trading day of any calendar month and a concurrent 30 trading day average closing price of at least US$1.00 per share.  Additionally, Obsidian Energy could cure the price condition by advising the NYSE o...