2-Feb-2016 Source: CHC
CHC Group (NYSE: HELI; the “Company”), the parent company of CHC Helicopter, today announced that it received written notice from the NYSE Regulation, Inc. that the NYSE has delisted the Company’s ordinary shares, pursuant to Section 802.01B of the NYSE’s Listed Company Manual requiring NYSE-listed companies to maintain an average market capitalization of $15 million or more over the preceding thirty trading days. The NYSE also suspended trading of the Company’s ordinary shares effective immediately.
The NYSE notice indicates that it will apply to the Securities and Exchange Commission (SEC) to delist the ordinary shares upon completion of all applicable procedures. The Company is taking steps necessary to have its ordinary shares quoted for trading on the OTCQX® Best Market (“OTCQX”), operated by OTC Markets Group Inc., under the trading symbol HELIF. The Company anticipates that its ordinary shares will begin trading on the OTCQX at market open on February 2, 2016, or as soon thereafter as practicable.
This transition to the OTCQX market does not directly affect the Company’s commercial operations and does not change its obligation to file periodic and certain other reports with the US Securities and Exchange Commission under applicable US federal securities laws. Company shareholders will remain registered owners of their ordinary shares of the Company.