Coho Energy Inc. Common Stock Delisted on Nasdaq.DALLAS--(BUSINESS WIRE)--June 7, 1999-- Coho Energy Inc. ("Coho") announced today that its common stock has been delisted from the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. effective at the close of business last Friday, June 4. This move was necessitated by the Company's non-compliance with the requirements for continued listing on the Nasdaq National Market and its current inability to comply with the requirements for continued listing on the Nasdaq Small Cap Market. The Company expects its common stock to be quoted on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. , although there can be no assurances as to if and when that process will be effected. The Company is continuing to negotiate a financial restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). and is in discussions with the holders of the Company's senior notes and with the banks in the Company's credit facility to reach an agreement on the resolution of the Company's liquidity problem. No assurances or definitive timing of an agreement can be given and the Company may need to seek court protection. Coho Energy Inc. is a Dallas-based independent oil and gas producer focusing on exploitation of underdeveloped un·der·de·vel·oped adj. Not adequately or normally developed; immature. oil properties and exploration in Oklahoma and Mississippi Mississippi, state, United States Mississippi (mĭs'əsĭp`ē), one of the Deep South states of the United States. It is bordered by Alabama (E), the Gulf of Mexico (S), Arkansas and Louisiana, with most of the border formed by . |
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