NYSE to Suspend Trading in TCP International (TCPI) and Commence Delisting
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The New York Stock Exchange announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of TCP International Holdings Ltd. (NYSE: TCPI) -- ticker symbol TCPI -- from the NYSE. Trading in the Company’s common stock on the NYSE will be suspended immediately.
The decision was reached because the Company is delayed in filing with the Securities and Exchange Commission (the “SEC”) its December 31, 2015 Form 10-K and Form 10-Q filings for September 30, 2015, March 31, 2016, June 30, 2016 and September 30, 2016 (“Late SEC Filings”). The Company informed the NYSE that it anticipates it will not be able to complete the Late SEC Filings by November 25, 2016, the maximum allowable trading period under Section 802.01E of the NYSE’s Listed Company Manual.
The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. The NYSE will apply to the SEC to delist the common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.
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