Chesapeake Energy Corp.
got a notice earlier this week from the New York Stock Exchange for being out of compliance with a trading rule that requires listed companies to keep an average closing price of at least a dollar over 30 days, the energy company said late Friday. Chesapeake plans to regain compliance by working on its ongoing plans to cut expenses, sell assets, look into a reverse share split, and find more savings, Chesapeake said. It also intends to respond to the NYSE notice shortly, it said. In the meantime, the stock will trade under its existing ticker plus the suffix “BC” to indicate below compliance, Chesapeake said. Chesapeake shares fell 1.8% to 77 cents a share in the extended session Friday after ending the regular trading day up 0.8%. The natural-gas producer has struggled with falling natural-gas prices that have also hit Chevron Corp.
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