Current Report Filing (8-k)
02 12월 2015 - 6:03AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 24, 2015
Dominion Resources Black Warrior Trust
(Exact name of registrant as specified in its charter)
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Delaware |
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1-11335 |
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75-6461716 |
(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
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Royalty Trust Management
Southwest Bank 2911
Turtle Creek Boulevard Dallas, TX |
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75219 |
(Address of principal executive offices) |
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(Zip Code) |
Registrants telephone number, including area code: (855) 588-7839
Not Applicable
(Former
name or former address, if changed since last report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 3 Securities and Trading Markets
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On November 24, 2015, Dominion Resources Black Warrior Trust (the Trust) was notified by the New York Stock
Exchange (the NYSE) that the average closing price of the Trusts units of beneficial interest (the Units), over the prior 30 consecutive trading days was below $1.00 per unit, which is the
minimum average closing price required to maintain listing on the NYSE under Section 802.01C of the NYSE Listed Company Manual.
As
required by the NYSE, the Trust plans to notify the NYSE of any intent to cure the deficiency and restore its compliance with the NYSE continued listing standards. As discussed in the Trusts Quarterly Report on Form 10-Q for the period ended
September 30, 2015 filed with the Securities and Exchange Commission on November 23, 2015 (the Form 10-Q), Walter Energy, Inc. has initiated bankruptcy proceedings in the United States Bankruptcy Court for the
Northern District of Alabama Southern Division (the Bankruptcy Court). As a result of these bankruptcy proceedings, Walter Energy, Inc. did not pay royalty payments to the Trust that would have typically been paid to the
Trust in the third quarter and has not yet paid royalty payments that would have typically been paid to the Trust in the fourth quarter. If the Trust does not receive these royalty payments, the Trust may not be able to cure the deficiency and
restore its compliance with the NYSE continued listing standards. The NYSE has notified the Trust that if it is unable to notify the NYSE of the Trusts intent to cure the deficiency and restore its compliance with the NYSE continued listing
standards, the NYSE will initiate procedures to suspend and delist the Units.
The notice has no immediate impact on the listing of the
Units, which are currently listed and traded on the NYSE. The Units trade under the symbol DOM, but will have an added designation of .BC to indicate the status of the Units as below compliance.
If the Units ultimately were to be delisted, it could negatively impact the Trust and its unitholders by reducing the liquidity and market
price of the Trusts Units.
Section 8 - Other Events
Item 8.01 Other Events.
On
December 1, 2015, the Trust issued a press release announcing the receipt of a notice of noncompliance from the NYSE. A copy of the press release is filed as Exhibit 99.1 hereto and is incorporated by reference herein.
The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Section 9 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits.
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Exhibit No. |
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Description |
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99.1 |
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Press release, dated December 1, 2015, issued by Dominion Resources Black Warrior Trust |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
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DOMINION RESOURCES BLACK WARRIOR TRUST |
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Date: December 1, 2015 |
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By: Southwest Bank, in its capacity as trustee of Dominion Resources Black Warrior Trust and not in its individual capacity or otherwise |
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By: |
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/s/ Ron Hooper |
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Ron Hooper |
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Senior Vice President |
EXHIBIT INDEX
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Exhibit No. |
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Description |
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99.1 |
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Press release, dated December 1, 2015, issued by Dominion Resources Black Warrior Trust |
Exhibit 99.1
DOMINION RESOURCES BLACK WARRIOR TRUST RECEIVES
CONTINUED LISTING STANDARD NOTICE FROM NYSE
DALLAS, TEXAS, December 1, 2015
Dominion Resources Black Warrior Trust (NYSE: DOM) (the Trust)
today announced that on November 24, 2015, the Trust was notified by the New York Stock Exchange (the NYSE) of its noncompliance with continued listing standards because the average closing price of its units of
beneficial interest (the Units) over a period of 30 consecutive trading days had fallen below $1.00 per share, which is the minimum average closing price required to maintain listing on the NYSE.
As required by the NYSE, the Trust plans to notify the NYSE of any intent to cure the deficiency and restore its compliance with the NYSE
continued listing standards. As discussed in the Trusts Quarterly Report on Form 10-Q for the period ended September 30, 2015 filed with the Securities and Exchange Commission on November 23, 2015, Walter Energy, Inc. has initiated
bankruptcy proceedings in the United States Bankruptcy Court for the Northern District of Alabama Southern Division (the Bankruptcy Court). As a result of these bankruptcy proceedings, Walter Energy, Inc. did not pay
royalty payments to the Trust that would have typically been paid to the Trust in the third quarter and has not yet paid royalty payments that would have typically been paid to the Trust in the fourth quarter. If the Trust does not receive these
royalty payments, the Trust may not be able to cure the deficiency and restore its compliance with the NYSE continued listing standards. The NYSE has notified the Trust that if it is unable to notify the NYSE of the Trusts intent to cure the
deficiency and restore its compliance with the NYSE continued listing standards, the NYSE will initiate procedures to suspend and delist the Units.
The notice has no immediate impact on the listing of the Units, which are currently listed and traded on the NYSE. The Units trade under the
symbol DOM, but will have an added designation of .BC to indicate the status of the Units as below compliance.
If the Units ultimately were to be delisted, it could negatively impact the Trust and its unitholders by reducing the liquidity and market
price of the Trusts Units.
Contact:
Ron Hooper
Senior Vice President
Southwest Bank, Trustee
Toll-free 1-855-588-7839
Dominion Resources Black... (CE) (USOTC:DOMR)
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