NEW YORK, December 31, 2020 – The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the securities of the following issuers (the “Issuers”):
NYSE Regulation reached its decision that the Issuers are no longer suitable for listing pursuant to Listed Company Manual Section 802.01D in light of Executive Order 13959 (the “Order”), which was signed on November 12, 2020. The Order prohibits, beginning 9:30 a.m. eastern standard time on January 11, 2021, any transaction in publicly traded securities, or any securities that are derivative of, or are designed to provide investment exposure to such securities, of any Communist Chinese military company, by any United States person.
Subject to confirmation that DTCC will settle trades executed on trade date January 7 and January 8, 2021, the NYSE will suspend trading in CHA, CHL and CHU at 4:00 a.m. on January 11. Absent such confirmation, the NYSE will suspend trading at 4:00 a.m. on January 7, 2021. The NYSE will provide further information as available.
The Issuers have a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Issuers and securities upon completion of all applicable procedures, including any appeal of the NYSE Regulation staff’s decision.
