The company has received notice that they are being subjected to an exchange initiated compliance review and have 120 days to come into compliance. Just what we needed.
Hard to act surprised this is happening, because we have been non-compliant for some time (required independent Director and market cap requirement), but stll ridiculous that this is where things have gotten to!
TORONTO, Oct. 17, 2013 /CNW/ - DELISTING REVIEWReliance Resources Limited (the "Company") - TSX is reviewing the common shares (Symbol: RI) of the Company with respect to meeting the continued listing requirements. The Company has been granted 120 days in which to regain compliance with these requirements, pursuant to the Remedial Review Process.
About TMX Group (TSX-X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices acrossCanada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at https://twitter.com/tmxgroup.