World News: 22:00 GMT Friday 11th January 2019. [Ferrellgas Partners, L.P. via Globe Newswire via SPi World News]
LIBERTY, Mo., Jan. 11, 2019 (GLOBE NEWSWIRE) -- Ferrellgas Partners, L.P. (NYSE:FGP) (“Ferrellgas” or the “Company”) announced today that on January 10, 2019, the Company was notified by the New York Stock Exchange, Inc. (NYSE) that it is no longer in compliance with the NYSE’s continued listing standards because the average closing price of the Company’s common units over a consecutive 30-day trading period was less than $1.00 per unit. The NYSE’s notification has no impact on the Company’s business operations.
In accordance with applicable NYSE procedures, the Company will respond to the NYSE within ten business days to confirm its intent to cure this deficiency within the prescribed timeframe set out in the NYSE’s Listed Company Manual. The Company has a period of six months following the receipt of notice to regain compliance. During this time the Company’s common units will continue to be listed and trade on the NYSE. The NYSE’s notification does not affect the Company’s Securities and Exchange Commission reporting requirements.
The Company can regain compliance at any time during the six month period if its common units have a closing price of at least $1.00 on the last trading day of any calendar month during the period and also has an average closing price of at least $1.00 over the 30 trading day period ending on the last trading day of that month. As of yesterday, January 10, 2019, the Company’s unit price closed at $1.25. If the current pricing trend were to continue, the Company would be able cure this deficiency in an accelerated timeframe.
Globe Newswire: 22:00 GMT Friday 11th January 2019
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