DJ TransGlobe Energy's Application to Transfer Trading to Nasdaq Capital Market Approved

By Sabela Ojea

TransGlobe Energy Corp. said Thursday that its application to transfer its common shares from the Nasdaq Global Select Market to the Nasdaq Capital Market has been approved.

The oil exploration and production company said its common shares will begin trading on the Nasdaq Capital Market at the start of trading on Dec. 31.

The company--whose current activities are concentrated in Egypt and Canada--added that it received notification from Nasdaq on Dec. 29 that, in connection with the approval, it has determined that the company will be eligible for an additional 180-day compliance period to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq's Listing Rule 5550.

"Should the company not meet the minimum bid requirement during the additional 180-day compliance period or otherwise comply with the terms of the extension, Nasdaq will provide written notification that the company's common shares will be delisted," TransGlobe Energy added.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

December 31, 2020 02:37 ET (07:37 GMT)

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