Foresight Energy LP (“Foresight”) (NYSE: FELP), a Delaware limited
partnership, is announcing today that it has been notified by the New
York Stock Exchange (the “NYSE”) that its common units did not satisfy
one of the NYSE’s standards for continued listing. The NYSE requires
that the average closing price per unit of a listed partnership be in
excess of $1.00 for a consecutive 30-trading-day period.
Under the NYSE’s rules, Foresight has a period of six months, subject to
possible extension, to bring its average common unit price back over
$1.00. Foresight’s common units will continue to be listed and traded on
the NYSE during this period. Foresight plans to notify the NYSE that it
anticipates that this deficiency will be cured and that it will return
to compliance with the NYSE continued listing standard. The NYSE
notification does not affect Foresight’s Securities and Exchange
Commission reporting requirements.
About Foresight Energy LP
Foresight is a leading producer and marketer of thermal coal controlling
nearly 2.1 billion tons of coal reserves in the Illinois Basin.
Foresight currently operates two longwall mining complexes with three
longwall mining systems (Williamson (one longwall mining system) and
Sugar Camp (two longwall mining systems)), one continuous mining
operation (Macoupin) and the Sitran river terminal on the Ohio River.
Additionally, Foresight has recently resumed continuous miner production
at its Hillsboro complex and continues to evaluate potential future
mining options. Foresight’s operations are strategically located near
multiple rail and river transportation access points, providing
transportation cost certainty and flexibility to direct shipments to the
domestic and international markets.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190614005275/en/
Copyright Business Wire 2019