Finance & Investing | Capital Markets
GMX Resources' NYSE Listing Flagged as Non-Compliant
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GMX Resources Inc. has provided an update in regard to its stock listing on the NYSE.
The Company announces today that has been notified by the New York Stock Exchange that it is not in compliance with one of the continued listing standards of the NYSE. The Company is considered below criteria established by the NYSE because the Company's total market capitalization has been less than $50 million over a consecutive 30 trading day period and its last reported shareholders' equity was less than $50 million.
In accordance with NYSE procedures, the Company has 45 days from receipt of the notice to submit a plan to the NYSE demonstrating how it intends to comply with the NYSE's continued listing standards within 18 months. The Listings and Compliance Committee of the NYSE will then review the…
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