Cloud Peak Energy Inc. (NYSE:CLD) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 9.01 Notice of Delisting or Failure to Satisfy a Continued Listing Ruleor Standard; Transfer of Listing.
On March26, 2019, Cloud Peak Energy Inc. (“CPE”) was notified by the New York Stock Exchange (“NYSE”) that due to “abnormally low” trading price levels, to Section802.01D of the NYSE Listed Company Manual, the NYSE has determined to commence delisting proceedings to delist its common stock. Trading in CPE’s common stock was suspended on March26, 2019.
The NYSE will apply to the Securities and Exchange Commission to delist the common stock upon completion of all applicable procedures. CPE does not intend to appeal the determination and, therefore, it is expected CPE’s common stock will be delisted.
The Company anticipates that effective March27, 2019, the common stock of CPE will commence trading on the OTC Pink marketplace under the symbol “CLDP”. CPE can provide no assurance that its common stock will continue to trade on this market, whether broker-dealers will continue to provide public quotes of CPE’s common stock on this market, whether the trading volume of CPE’s common stock will be sufficient to provide for an efficient trading market or whether quotes for CPE’s common stock may be blocked by OTC Markets Group in the future.
Item 9.01 Regulation FD Disclosure.
On March26, 2019, CPE issued a press release with respect to the NYSE’s suspension of trading and commencement of delisting procedures. The full text of the press release is furnished with this Report as Exhibit99.1 to this Current Report on Form8-K.
The information contained in this Item 9.01 (including Exhibit99.1) is furnished to this Item 9.01 and shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that Section, notwithstanding any general incorporation by reference language in other CPE filings.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits. The following exhibit is being furnished herewith.
CLOUD PEAK ENERGY INC. Exhibit
EX-99.1 2 a19-7255_2ex99d1.htm EX-99.1 Exhibit 99.1 PRESS RELEASE March 26,…
To view the full exhibit click here
About Cloud Peak Energy Inc. (NYSE:CLD)
Cloud Peak Energy Inc. is a producer of coal in the United States of America and the Powder River basin (PRB). The Company owns and operates three surface coal mines: the Antelope Mine, the Cordero Rojo Mine, and the Spring Creek Mine. The Company operates through two segments: Owned and Operated Mines segment, and Logistics and Related Activities. The Company’s Owned and Operated Mines segment is characterized by the focus on thermal coal production. Its segment includes the Company’s Antelope Mine, Cordero Rojo Mine, and Spring Creek Mine. The Company’s Logistics and Related Activities segment is characterized by the services the Company provides to its international and domestic customers. The services provided by it include the purchase of coal from third parties or from its owned and operated mines, at market prices, as well as the contracting and coordination of the transportation and other handling services from third-party operators, which are rail and terminal companies.
