Quicksilver Resources Inc. (OTC:KWKA) has received notification that the New York Stock Exchange (NYSE) had determined to commence proceedings to delist the company's common stock in view of its low trading price, and trading in the company's common stock was suspended immediately. The company had previously disclosed that, on October 9, 2014, the NYSE had notified the company that the 30-trading-day average closing price of the company's common stock had fallen below $1.00 per share, the minimum average share price required for continued listing of the company's common stock on the NYSE under Rule 802.01C of the NYSE Listed Company Manual.
Quicksilver Resources does not intend to appeal the delisting determination. The company's common stock is now traded on the OTC market, and the company expects that its common stock will be traded on the OTCQB Marketplace within the next several days, under the ticker symbol "KWKA." The company is based in Fort Worth, Texas.
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