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Mississippi Lime Operator to Be Delisted From NYSE
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Midstates Petroleum Company, Inc. announced today that it received notification on April 1, 2015, from the New York Stock Exchange that the price of the Company's common stock has fallen below the NYSE's continued listing standard. The NYSE requires that the average closing price of a listed company's common stock not be less than $1.00 per share for a period of over 30 consecutive trading days.
Under NYSE rules, the Company can avoid delisting if, during the six month period following receipt of the NYSE notice and on the last trading day of any calendar month, the Company's common stock price per share and 30 trading-day average share price is at least $1.00.
During this six month period, the Company's common stock will continue to be traded on the NYSE, subject to compliance with other…
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