Samson Oil & Gas Announces Suspension of Trading of American Depositary Shares on NYSE American Exchange and Pending Delisting
20 November 2017 - 11:00AM
Business Wire
As previously announced by the NYSE, trading of the Company’s
American Depositary Shares (ADSs), each representing 200 of its
ordinary shares, was suspended on November 16. The suspension was
the result of a decision by an NYSE Listing Qualifications Panel to
deny Samson’s request for additional time to meet the minimum
shareholders’ equity requirements for continued listing of the ADSs
on the NYSE American and to begin the delisting process for the
ADSs by the filing of a Form 25 with the Securities and Exchange
Commission.
The ADSs will begin trading on the OTCBB on Monday November 20,
2017 under the symbol SSNYY. Samson has also made arrangements for
the ADSs to trade on an OTC Markets trading platform (either OTCQB
or OTCQX) once the formalities of that application process are
completed.
SAMSON OIL & GAS LIMITED
TERRY BARRManaging Director
Statements made in this press release that are not historical
facts may be forward looking statements, including but not limited
to statements using words like “may”, “believe”, “expect”,
“anticipate”, “should” or “will.” Actual results may differ
materially from those projected in any forward-looking statement.
There are a number of important factors that could cause actual
results to differ materially from those anticipated or estimated by
any forward looking information, including the decisions of third
parties, such as regulators and financing sources. A description of
the risks and uncertainties that are generally attendant to Samson
and its industry, as well as other factors that could affect
Samson’s financial results, are included in the prospectus and
prospectus supplement for its recent Rights Offering as well as the
Company's report to the U.S. Securities and Exchange Commission on
Form 10-K, which are available at
www.sec.gov/edgar/searchedgar/webusers.htm.
Samson’s Ordinary Shares are traded on the Australian Securities
Exchange under the symbol "SSN". Samson's American Depository
Shares (ADSs) are expected to be traded on the OTC Markets under
the symbol "SSNYY". Each ADS represents 200 fully paid Ordinary
Shares of Samson. Samson has a total of 3,283 million ordinary
shares issued and outstanding, which would be the equivalent of
16.41 million ADSs. Accordingly, based on the NYSE MKT closing
price of US$0.36 per ADS on November 15th, 2017, the Company has a
current market capitalization of approximately US$5.9 million.
Correspondingly, based on the ASX closing price of A$0.002 for
ordinary shares on November 17th, 2017, the Company has a current
market capitalization of approximately A$6.5 million.
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version on businesswire.com: http://www.businesswire.com/news/home/20171119005056/en/
Samson Oil & Gas LimitedTerry Barr, CEO, 303-296-3994
(US office)
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