Amplify Energy Regains Compliance with NYSE Minimum Price Listing Standard

Rhea-AI Summary

Amplify Energy Corp. (NYSE: AMPY) announced on June 2, 2020, that it has regained compliance with the New York Stock Exchange's continued listing standards. The company had previously received a notification on April 20, 2020, indicating it had fallen below the minimum average closing price of $1.00 per share. Amplify's average closing price exceeded this threshold for the 30 trading days ending May 29, 2020, and the compliance indicator has been removed from its shares.

Positive

• Regained compliance with NYSE listing standards.
• Average closing price exceeded $1.00, removing compliance indicator.

Negative

• None.

HOUSTON, June 03, 2020 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) announced today that on June 2, 2020, Amplify was notified by the New York Stock Exchange (“NYSE”) that the Company has regained compliance with the NYSE's continued listing standards.

On April 20, 2020, Amplify received notification from the NYSE that the Company had fallen below the continued listing standard to maintain a minimum average closing price of $1.00 per share over 30 consecutive trading days.

Amplify regained compliance after its average closing price for the 30 trading days ended May 29, 2020 and its closing price on May 29, 2020 both exceeded $1.00 per share. The below compliance (“.BC”) indicator has been removed from the Company’s common shares, and the Company was removed from the NYSE list of non-compliance issuers.

About Amplify Energy

Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploration and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies, offshore California, East Texas / North Louisiana and South Texas.  For more information, visit www.amplifyenergy.com.

Investor Relations Contacts

Martyn Willsher – Interim CEO & CFO
(832) 219-9047
martyn.willsher@amplifyenergy.com

Eric Chang – Treasurer
(832) 219-9024
eric.chang@amplifyenergy.com

FAQ

What compliance issue did Amplify Energy face?

Amplify Energy faced a compliance issue with the NYSE for falling below an average closing price of $1.00 per share.

When did Amplify Energy regain compliance with the NYSE?

Amplify Energy regained compliance with the NYSE on June 2, 2020.

What was the average closing price of Amplify Energy before regaining compliance?

Amplify Energy's average closing price for 30 trading days prior to regaining compliance was below $1.00.

What actions did Amplify Energy take to regain compliance?

Amplify Energy's average closing price exceeded $1.00 for the required trading period, leading to compliance.