27 NOVEMBER 2015Noranda Aluminum Press Release
Noranda considers over-the-counter market after NYSE suspends common stock trading
Edited by : AL CIRCLE
1 min read
Noranda Aluminum Holding Corporation announced today that it has received notification that NYSE Regulation, Inc. has determined to commence proceedings to delist the Company's common stock from the New York Stock Exchange, and that upon completion of all applicable procedures, the NYSE will file an application with the Securities and Exchange Commission to delist the stock.
NYSE Regulation advised the company that it reached its decision to delist the common stock pursuant to Section 802.01B of the NYSE's Listed company Manual because the company 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 $15.0 million. The company does not intend to appeal the delisting determination.
NYSE Regulation also informed Noranda that trading in the company's common stock on the NYSE has been suspended as of November 25, 2015. The company anticipates that its common stock will be traded in the over-the-counter market. However, there is no assurance that an active market will be maintained for the Company's common stock.
NYSE Regulation advised the company that it reached its decision to delist the common stock pursuant to Section 802.01B of the NYSE's Listed company Manual because the company 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 $15.0 million. The company does not intend to appeal the delisting determination.
NYSE Regulation also informed Noranda that trading in the company's common stock on the NYSE has been suspended as of November 25, 2015. The company anticipates that its common stock will be traded in the over-the-counter market. However, there is no assurance that an active market will be maintained for the Company's common stock.
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