NEW YORK, December 7, 2015 – The New York Stock Exchange (“NYSE”) announced today that the staff of NYSE Regulation, Inc. has determined to commence proceedings to delist 11.00% Series A Cumulative Convertible Preferred Units representing preferred equity interests (“preferred units”) of New Source Energy Partners L.P. (the "Company") – ticker symbol NSLP PR A – from the NYSE. Trading in the Company’s preferred units will be suspended immediately.
NYSE Regulation reached its decision to delist the preferred units pursuant to Section 802.01B of the NYSE’s Listed Company Manual because the preferred units have fallen below the applicable continued listing standard requiring listed companies to maintain an aggregate market value of publicly-held shares for a preferred security of at least $2,000,000.
The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. The NYSE will apply to the Securities and Exchange Commission to delist the preferred units representing limited partner interests upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.
Company Contact:
Nick Hodapp
New Source Energy Partners, LP
Office: 405.272.3028
Cell: 303.956.7437
www.newsource.com