During Thursday’s Afternoon trade, Shares of Penn West Petroleum Ltd. (NYSE:PWE), gained 0.69% to $0.57, hitting its lowest level.
Penn West Petroleum, declared that it received notification on September 4, 2015 from the New York Stock Exchange that Penn West is no longer in compliance with one of the NYSEs continued listing standards applicable to Penn West because the average closing price of Penn Wests common stock was less than US$1.00 per share over a successive 30 trading day period. As of September 2, 2015, the average closing price of Penn Wests common stock over the preceding successive 30 trading day period was US$0.99 per share. The issuance by the NYSE of the notification is non-discretionary and is sent automatically when a listed companys stock price falls below the minimum price-listing standard.
Non-compliance with the NYSEs price listing standard does not affect Penn Wests business operations or its reporting requirements to the U.S. Securities and Exchange Commission (the SEC), nor does it breach or cause an event of default under any of Penn Wests agreements with its lenders. Penn West continues to comply with the terms of all of those agreements. In addition, non-compliance with the NYSE price-listing standard does not affect the continued listing and trading of Penn Wests common shares on the Toronto Stock Exchange (the TSX).
Under the NYSEs rules, Penn West has a period of six months from the date of the NYSE notification to regain compliance with the NYSEs price listing standard and avoid delisting. If Penn West determines to remedy the non-compliance by taking action that requires shareholder approval, then Penn West may seek to obtain such shareholder approval at its next annual meeting, which may take place more than six months from the date of the NYSE notification. Penn West can regain compliance if, during the applicable cure period following receipt of the NYSE notification, on the last trading day of any calendar month, Penn Wests common stock has a closing price and a 30 trading day average closing price of at least US$1.00 per share. In the event that at the expiration of the applicable cure period, Penn West has not regained compliance, the NYSE will commence suspension and delisting procedures. Administration of Penn West will actively monitor the stock price and evaluate all available options in order to regain compliance with the NYSEs price listing standard within the applicable cure period.
Penn West intends to notify the NYSE within 10 business days from the date of the NYSE notification that it intends to cure this price deficiency and return to compliance with the NYSEs price listing standard before the expiration of the applicable cure period.
Penn West Petroleum Ltd. explores for, develops, and produces oil and natural gas properties in western Canada. The company’s properties are located in Alberta, British Columbia, Saskatchewan, Manitoba, and the Northwest Territories, Canada; and Wyoming, the United States.
Shares of The Procter & Gamble Company (NYSE:PG), declined -0.26% to $68.30, during its current trading session.
There’s nothing more American than food, football, family and friends, which is why Prilosec OTC, the zero heartburn medicine, is bringing the tailgate home to celebrate Homegating this NFL season – and giving back to our neighbors in need in the process. Prilosec OTC is teaming with Taste of the NFL this football season to rally NFL fans to support their local food banks as they prepare for an epic Homegating season of food, fun and football. Prilosec OTC will donate 1 million meals to more than 30 food banks across the country.
“Family, food and football are three of my favorite things, and during the NFL season, Prilosec OTC gives me the freedom to enjoy my Homegating parties without worrying about my frequent heartburn,�? said Larry the Cable Guy. “This football season I’m proud to say that I’m teaming up with Prilosec OTC to fight more than heartburn – we’re fighting hunger, too. You can’t beat zero heartburn,* and together, we can assist beat hunger.�?
Prilosec OTC recruited two other frequent heartburn sufferers and NFL superstars – Nick Mangold of the New York Jets and DeMarcus Ware of the Denver Broncos – to encourage NFL fans to join them in the fight against hunger. During this NFL season, Mangold and Ware will represent Prilosec OTC in their communities, raising awareness of the issue for their local food banks. NFL fans can visit www.YouCantBeatZero.com to donate to food banks in their own communities through Taste of the NFL’s Kick Hunger Challenge. Fans can also enter for a chance to win a trip to Super Bowl 50 in the process.
From September 10, 2015 until January 1, 2016 enter the Prilosec OTC You Can’t Beat Zero* Super Bowl Sweepstakes at www.YouCantBeatZero.com for a chance to win an expenses-paid trip to Super Bowl 50. Submit a photo of your own Homegating party to double your chances of winning. One winner will be chosen at random each month of the NFL regular season (September through December) to receive one of four grand prizes, which each comprise two tickets to Super Bowl 50; two VIP tickets to Taste of the NFL’s “Party with a Purpose;�? travel and accommodations for two; and one $500 gift card.
The Procter & Gamble Company, together with its auxiliaries, manufactures and sells branded consumer packaged products worldwide. It operates through five segments: Beauty, Hair and Personal Care; Grooming; Health Care; Fabric Care and Home Care; and Baby, Feminine and Family Care.
Finally, Shares of Morgan Stanley (NYSE:MS), gained 0.21%, and is now trading at $33.82.
Orchard Platform, which provides technology and infrastructure to online lenders, said on Thursday it raised $30 million in a recent round of funding, becoming the latest marketplace lending company to attract investment, according to Reuters.
The New York-based company said venture capital firm Thrive Capital led the round and new invesors also comprised former Goldman Sachs Group Inc president Jon Winkelried, Victory Park Capital and Thomvest Ventures. Reuters Reports
Orchards existing investors comprise former Thomson Reuters Corp CEO Tom Glocer and ex-Morgan Stanley CEO John Mack in addition to venture firms Spark Capital, Canaan Partners, QED Investors, NYCA and Conversion Capital, who all also took part in the round. Reuters added.
The latest raise brings Orchards total investment to $44.7 million.
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The companys Institutional Securities segment offers financial advisory services on mergers and acquisitions, divestitures, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts, takeover defenses, and shareholder relations, in addition to provides capital raising and corporate lending services.
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