Hyperdynamics: NYSE warns over capitalisation

Issue 276 - 02 May 2014
The New York Stock Exchange (NYSE) notified Hyperdynamics on 24 April that the company had fallen below its continued listing standards. The Houston-based company’s average global market capitalisation had been less than $50m over a consecutive 30 trading-day period and its stockholders’ equity is less than $50m. The company moved to the main NYSE from the NYSE Amex exchange in July 2011 after Ray Leonard took over as president and chief executive (AE 213/15), but shareholder enthusiasm has evaporated.

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