Hkn (HKNI) 15.7500 $HKNI
HKN, Inc. to Cease Reporting Under Securities Exchange Act of 1934
Marketwired - Fri Oct 23, 10:10AM CDT
HKN, Inc. (OTCQB: HKNI) ("HKN" or "the Company"
announced that the Company intends to cease filing reports with the Securities and Exchange Commission (SEC) prior to November 14, 2015. The Company is eligible under SEC rules and regulations to cease reporting under Section 13(a) and Section 15(d) of the Exchange Act and intends to file a Form 15 with the SEC. Upon filing the Form 15, the Company will immediately cease filing periodic reports with the SEC. The Company is taking this action primarily in order to achieve the cost savings and reduced regulatory burden associated with ceasing to be a publicly reporting company. As a result of this action, the Company's common stock is expected to cease trading on the OTCQB but to continue to be quoted in the OTC Pink Marketplace.
HKN Announces Bridge Loan Made to Everest Hill Group, Inc.
Marketwired - Tue Sep 15, 5:04PM CDT
HKN, Inc. (OTCQB: HKNI) ("HKN" or the "Company" announced that the Company along with its affiliate Global Energy Development PLC ("Global" had extended a $10 million short-term secured loan to Everest Hill Group, Inc. ("Everest Hill", the Company's controlling stockholder. The Company loaned $2 million of the total loan amount, and Global loaned the remaining $8 million. The principal amount of the loan is payable in full on March 15, 2016, and the loan bears interest which is payable monthly at the annual rate of 12%. The loan is secured by the pledge of 264,323 shares of the Company's common stock and 9,378,638 ordinary shares of Global owned by subsidiaries of Everest Hill.
HKN, Inc. to Cease Reporting Under Securities Exchange Act of 1934
Marketwired - Fri Oct 23, 10:10AM CDT
HKN, Inc. (OTCQB: HKNI) ("HKN" or "the Company"
announced that the Company intends to cease filing reports with the Securities and Exchange Commission (SEC) prior to November 14, 2015. The Company is eligible under SEC rules and regulations to cease reporting under Section 13(a) and Section 15(d) of the Exchange Act and intends to file a Form 15 with the SEC. Upon filing the Form 15, the Company will immediately cease filing periodic reports with the SEC. The Company is taking this action primarily in order to achieve the cost savings and reduced regulatory burden associated with ceasing to be a publicly reporting company. As a result of this action, the Company's common stock is expected to cease trading on the OTCQB but to continue to be quoted in the OTC Pink Marketplace. HKN Announces Bridge Loan Made to Everest Hill Group, Inc.
Marketwired - Tue Sep 15, 5:04PM CDT
HKN, Inc. (OTCQB: HKNI) ("HKN" or the "Company"
announced that the Company along with its affiliate Global Energy Development PLC ("Global" had extended a $10 million short-term secured loan to Everest Hill Group, Inc. ("Everest Hill", the Company's controlling stockholder. The Company loaned $2 million of the total loan amount, and Global loaned the remaining $8 million. The principal amount of the loan is payable in full on March 15, 2016, and the loan bears interest which is payable monthly at the annual rate of 12%. The loan is secured by the pledge of 264,323 shares of the Company's common stock and 9,378,638 ordinary shares of Global owned by subsidiaries of Everest Hill. 
