Horizon Lines Stock Trading on OTC

Friday, October 21, 2011

Horzion Line's stock is now trading on the OTC market with new trading symbol (HRZL).

Horizon Lines, Inc. (NYSE: HRZ), the nation's leading domestic ocean shipping company, today announced that its common stock will begin trading on the OTCQB Marketplace, effective October 20, 2011. OTC Markets Group Inc. operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks, including the OTCQB Marketplace. Investors will be able to view the Real Time Level II stock quote, which provides detailed quote information by market maker, for Horizon Lines at http://www.otcmarkets.com under the ticker symbol HRZL. 


 
The transition to the OTCQB Marketplace comes after the New York Stock Exchange (NYSE) announced that trading of the common stock of Horizon Lines will be suspended prior to the market opening on October 20, 2011. The stock is being suspended because it did not maintain an average market capitalization of at least $15 million over a consecutive 30-trading-day period, as required by NYSE continued listing standards. Horizon Lines is appealing the NYSE's determination. The company has been advised by the NYSE that additional action to pursue delisting of the stock will not be undertaken until the appeal is completed. In the meantime, the company's stock will trade on the OTCQB Marketplace under the new HRZL stock symbol.

 
The transition to the OTCQB Marketplace does not change the company's obligation to file periodic and other reports with the Securities and Exchange Commission under applicable federal securities laws. In addition, the transition of the company's stock to the OTCQB Marketplace will have no effect on the shares themselves. Horizon Lines' shareholders remain owners of the common stock and will be able to trade the stock on the OTCQB Marketplace as of October 20, 2011.  "Our stock's change in trading venue does not have any impact on our ability to provide excellent service to our customers," said Stephen H. Fraser, President and Chief Executive Officer. "We continue to move forward with a new financial structure resulting from our recent successful refinancing that provides adequate liquidity to fund continuing operations and affords us the opportunity to grow our business and reduce debt over time."

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MN 100: AEP River Operations

16150 Main Circle Drive, Suite #400 St. Louis, MO 63017 Tel: (636) 530-2100  Email: info@aepriverops.com Website: www.aepriverops.com President: Keith Darling The

MN 100: Caterpillar Marine

Neumühlen 9 22763 Hamburg/Germany Tel: (713) 895-1449 Email: cat_power@cat.com Website: www.marine.cat.com Managing Director: Nigel Parkinson The Company: Caterpillar

Airbus May Sell Stake in Submarine Supplier

Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die

Finance

Airbus May Sell Stake in Submarine Supplier

Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die

W.Africa Crude Slow to Trade; Nigerian Glut Fading

Angolan cargoes for October loading are so far finding buyers slowly, traders said on Friday, while there were further signs that an overhang of September-loading Nigerian cargoes is being absorbed.

US Steel Producers Win Anti-dumping Case

The United States has approved anti-dumping duties against South Korea and other producers of steel pipes for the energy sector, a victory for domestic producers

Container Ships

Container Manufacturer Reports Profit Plunge

World-leading container manufacturer and logistics services provider Singamas Container Holdings Limited (Singamas) has  announced its unaudited interim results for the six months ended 30 June 2014.

Maersk Line Still the Leading Carrier on Reliability in Q2

During the second quarter, the overall industry reliability has improved. However, Maersk Line is pleased to have improved their performance so that they can

Evergreen Line Makes Maiden Call to Boston

Evergreen Line’s ItalLunare celebrated its maiden call to the Port of Boston with an official first call and plaque presentation on Wednesday, the Massachusetts Port Authority (Massport) announced.

News

Scottish Sea Farms Orders Newbuilds

Macduff Shipyards Ltd. has received a contract worth more than £3.3 million pounds from Scottish Sea Farms for the design and build of four 19.8-meter 150T steel

Mexican Navy Delegation Visits NSSA

The U.S. Navy reported that its Norfolk Ship Support Activity (NSSA) welcomed the Mexican Navy Delegation to Building CEP-200, Naval Station Norfolk, Aug. 21 for

MARAD: Total Fuel Cycle Study for Natural Gas

The Maritime Administration (MARAD) released a study that evaluates total fuel cycle emissions for natural gas versus conventional marine fuels. Results showed

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1743 sec (6 req/sec)