GulfMark transfers listing to OTC Pink SheetsCompany News // April 13, 2017
On 10 April 2017 GulfMark Offshore was notified by the New York Stock Exchange that it had determined to commence proceedings to delist the company’s Class A common stock, par value US$0.01 per share because the average closing price per share of the common stock over a period of 30 consecutive trading days was below US$1.00 per share, which is the minimum average closing price required to maintain listing on the NYSE. Trading in the Common Stock on the NYSE was suspended after the close of trading on that date.
Effective 11 April 2017, the company’s Common Stock commenced trading in the 'Pink Sheets' of the OTC Markets Group Inc under the symbol 'GLFM.'
The OTC Pink is a significantly more limited market than the NYSE, and quotation on the OTC Pink may result in a less liquid market available for existing and potential stockholders to trade the Common Stock and could further depress the trading price of the Common Stock.