SandRidge Permian Trust Announces Update on NYSE Delisting

HOUSTON--(BUSINESS WIRE)--SANDRIDGE PERMIAN TRUST (NYSE: PER) today announced that it has received notification from the New York Stock Exchange (“NYSE”) of its determination to suspend trading of the Trust’s units of beneficial interest (the “Trust units”), effective as of the close of trading on September 8, 2020, and to initiate proceedings to delist the Trust units. The determination to commence the delisting proceeding results from the Trust’s inability to satisfy the continued listing compliance standards set forth under Rule 802.01C of the NYSE Listed Company Manual because the average closing price of the Trust units fell below $1.00 over a 30 consecutive trading-day period that ended December 24, 2019, and the Trust was unable to regain compliance with the applicable standards within a cure period that concluded on September 5, 2020.