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NYSE Suspends Trading of Gastar's Stock; Commences Delisting Process
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Gastar Exploration Inc. has received notification from the NYSE American LLC that the NYSE has suspended trading of the Company's common stock on the exchange due to its abnormally low trading price.
The NYSE stated that it intends to commence the delisting process and will apply to the SEC) to delist the Company's common stock and preferred stocks upon completion of all applicable procedures. Gastar is reviewing whether it will appeal the delisting determination pending the outcome of its previously announced process seeking proposals from third parties for strategic alternatives for the Company.
The Company anticipates that during the trading suspension its common stock and its two preferred stock issues will be quoted for trading on the OTCQB over-the counter market under different trading symbols on September 7, 2018, or shortly thereafter.
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