Just Energy Announces Toronto Stock Exchange and New York Stock Exchange Have Commenced Delisting Proceedings
March 10, 2021 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Just Energy Group Inc. ('Just Energy' or the 'Company') today announced that it has received notice from the Toronto Stock Exchange (the 'TSX') that a meeting of the Continued Listing Committee of the TSX is scheduled to be held on March 15, 2021 to consider whether or not to delist the securities of the Company from the TSX.
The Company has also received notice from the New York Stock Exchange (the 'NYSE') that the staff of NYSE Regulation has determined to commence proceedings to delist Just Energy’s shares from the NYSE. The staff of NYSE Regulation has determined that the Company is no longer suitable for listing due to receiving creditor protection via an Initial Order under the Companies’ Creditors Arrangement Act from the Ontario Superior Court of Justice (Commercial List) and under Chapter 15 of the Bankruptcy Code in the United States. The Company has a right to a review of this determination by a Committee of the Board of Directors of the NYSE (the 'Committee'). The NYSE will announce a suspension date and suspend trading at such time as (i) the Company does not request a review by the Committee within 10 business days of the NYSE notice to the Company, (ii) the Company determines that it does not intend to appeal, (iii) the subsequent review of the Committee determines that the Company should be suspended, or (iv) there are other material developments. After the suspension announcement, the NYSE would then apply to the Securities and Exchange Commission to delist the shares of Just Energy. If the Company’s shares are delisted from the NYSE, they will commence trading on the OTC Pink Market in the United States.