$WRES - Yesterdays Update ------------ Warren Reso
Post# of 29735
Posted On: 12/30/2015 12:22:40 PM
$WRES - Yesterdays Update
Warren Resources Shares Gain 32%, Will Present Plan to Regain Compliance With Nasdaq Minimum Bid Rule
BY Midnight Trader
— 1:32 PM ET 12/29/2015
01:32 PM EST, 12/29/2015 (MT Newswires) -- Warren Resources ( WRES
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) shares were higher over 32% on Tuesday as the company said in a regulatory filing that it plans to request a hearing to present a plan for how it will regain compliance with Nasdaq's minimum bid rule and also seek an additional 180 calendar days to get there.
The company was warned it was not in compliance with the $1.00 minimum bid rule on June 2 and on Dec. 22 it received a letter from Nasdaq saying that it would be subject to delisting unless it requested a hearing with the exchange operator.
Warren Resources ( WRES
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) said its request will automatically stay any delisting or suspension action pending the issuance of a final decision by the Nasdaq panel and the expiration of any further extension granted by the panel. It noted that there can be no assurance that the panel will ultimately grant an extension of the compliance period.
WRES trades near the bottom of the 52-week range between $0.14 and $1.84.
Price: 0.22, Change: +0.05, Percent Change: +32.07
MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
Warren Resources Shares Gain 32%, Will Present Plan to Regain Compliance With Nasdaq Minimum Bid Rule
BY Midnight Trader
— 1:32 PM ET 12/29/2015
01:32 PM EST, 12/29/2015 (MT Newswires) -- Warren Resources ( WRES
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) shares were higher over 32% on Tuesday as the company said in a regulatory filing that it plans to request a hearing to present a plan for how it will regain compliance with Nasdaq's minimum bid rule and also seek an additional 180 calendar days to get there.
The company was warned it was not in compliance with the $1.00 minimum bid rule on June 2 and on Dec. 22 it received a letter from Nasdaq saying that it would be subject to delisting unless it requested a hearing with the exchange operator.
Warren Resources ( WRES
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) said its request will automatically stay any delisting or suspension action pending the issuance of a final decision by the Nasdaq panel and the expiration of any further extension granted by the panel. It noted that there can be no assurance that the panel will ultimately grant an extension of the compliance period.
WRES trades near the bottom of the 52-week range between $0.14 and $1.84.
Price: 0.22, Change: +0.05, Percent Change: +32.07
MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
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