LL&E Royalty Trust Announces Receipt of Additional NYSE Notice
06 10월 2009 - 4:36AM
Business Wire
LL&E Royalty Trust (NYSE: LRT) announced today that it has
received an additional notice from The New York Stock Exchange (the
“NYSE”) stating that the Trust has until November 16, 2009 to cure
the average closing price noncompliance and that, if the Trust
fails to do so, the NYSE would have to initiate suspension and
delisting procedures.
As previously announced, the NYSE had previously notified the
Trust that the Trust had fallen below the NYSE’s continued listing
standard relating to the average closing price of the Trust’s
securities and that, as such, the Trust was subject to the
procedures outlined in sections 801 and 802 of the NYSE Listed
Company Manual. Rule 802.01C of the NYSE Listed Company Manual
requires that the securities have a minimum average closing price
of not less than $1.00 during a consecutive 30 trading-day
period.
During 2006 and 2007 the Trust’s net revenues were below the
minimum amounts required by the Trust’s governing documents for the
continuation of the Trust. Consequently, in accordance with its
governing documents, the Trust terminated effective
December 31, 2007 and will sell its assets. However, as
announced by the Trustee on October 22, 2008, the Trustee
determined that, in light of market conditions, it was in the best
interests of the Unitholders to postpone the sale of the Trust’s
assets. The Trustee reviews market conditions frequently, and
intends to recommence the marketing process as soon as
practicable.
This press release contains statements that are “forward-looking
statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements
contained in this press release, other than statements of
historical facts, are “forward-looking statements” for purposes of
these provisions. These forward-looking statements include those
relating to estimates of the length of the postponement of the sale
of the Trust’s assets and all statements regarding the future
status and termination of the Trust. An investment in Units issued
by LL&E Royalty Trust is subject to the risks described in the
Trust’s Annual Report on Form 10-K for the year ended
December 31, 2008, and all of its other filings with the
Securities and Exchange Commission. The Trust’s annual, quarterly
and other filed reports are available over the Internet at the
SEC’s web site at http://www.sec.gov.
L L E Royal TR Ubi (NYSE:LRT)
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부터 10월(10) 2024 으로 11월(11) 2024
L L E Royal TR Ubi (NYSE:LRT)
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부터 11월(11) 2023 으로 11월(11) 2024
LL&E Royalty Trust CO. (뉴욕 증권거래소)의 실시간 뉴스: 최근 기사 0
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