Hamilton, Bermuda - May 09, 2019
Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE:TNK) announced today that on April 10, 2019, the Company was notified by the New York Stock Exchange LLC (NYSE) that it was not in compliance with the NYSE’s continued listing standards because the average closing price of the Company's Class A common stock over the consecutive 30 trading-day period at that time was less than $1.00 per share.
Subsequently, as a result of the Company’s Class A common stock price appreciation, on May 1, 2019, Teekay Tankers was notified by the NYSE that the Company is again in compliance with the NYSE’s continued listing standards because the average share price over the 30 trading days ending, and its closing price as of, April 30, 2019 was above $1.00 per share.
About Teekay Tankers
Teekay Tankers currently owns a fleet of 56 double-hull tankers, including 30 Suezmax tankers, 17 Aframax tankers, and nine Long Range 2 (LR2) product tankers, and has six contracted time charter-in tankers. In addition, the Company owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. Teekay Tankers’ vessels are employed through a mix of short- or medium-term fixed rate time charter contracts and spot tanker market trading. Teekay Tankers also owns a ship-to-ship transfer business. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business.
Teekay Tankers’ common stock trades on the New York Stock Exchange under the symbol “TNK.”
Teekay Tankers Ltd. press release