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Paringa Resources (ASX:PNL) delisted from Nasdaq
  • Coal producer Paringa Resources (PNL) has been delisted from the Nasdaq stock market
  • The Nasdaq Listing Qualifications Department notified the company that due to its subsidiary, Hartshorne Mining Group, filing for bankruptcy it will be delisted from Nasdaq
  • Trading of Paringa's American Depository Shares (ADSs) will be suspended on March 5
  • Paringa shares remain suspended until the company can make further announcements, last trade was at 4.1¢ apiece

Coal producer Paringa Resources (PNL) has been delisted from the Nasdaq stock market.

The Nasdaq Listing Qualifications Department has notified the company that due to its subsidiary, Hartshorne Mining Group, filing for bankruptcy it will be delisted from Nasdaq.

Nasdaq (National Association of Securities Dealers Automated Quotations) is a global electronic marketplace for buying and selling shares. It enables investors to trade securities on a computerised. speedy and transparent system.

More than 3000 stocks are listed on the Nasdaq and it includes the worlds leading technology and biotech giants such as Apple, Google, Microsoft, Amazon and Intel.

Trading of Paringa's American Depository Shares (ADSs) will be suspended on March 5.

After the company is delisted, its ADS' may be traded over-the-counter on the OTC Bulletin Board or "pink sheets" if market makers seek to and obtain approval from the Financial Industry Regulatory Authority.

Paringa is a U.S. based producer of low cost, high-quality thermal coal in Illinois Coal Basin.

Paringa shares remain suspended until the company can make further announcements, last trade was at 4.1¢ apiece.


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