NEW YORK, November 11, 2019 – The New York Stock Exchange (“NYSE”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the Units of Beneficial Interest (“Units”) of SandRidge Mississippian Trust II (the “Company”) -- ticker symbol SDR -- from the NYSE. Trading in the Company’s Units was suspended after the market close on the NYSE on November 11, 2019.
NYSE Regulation reached its decision to delist the Units pursuant to Listed Company Manual Section 802.01C, as the Company had fallen below the NYSE’s continued listing standard for average closing price of less than $1.00 over a consecutive 30 trading-day period and failed to cure this non-compliance within the required timeframe.
The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Units upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.
Company Contacts:
SandRidge Mississippian Trust II
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
1 (512) 236-6555