|
|
|
NYSE Suspends Trading in General Growth Properties, Inc. and Moves to Remove from the List
| | |
NEW YORK , April 16, 2009 – NYSE Regulation, Inc. (“NYSE Regulation”) announced today that it determined that the common stock of General Growth Properties, Inc. (the “Company”) – ticker symbol GGP – should be suspended immediately.
This decision was reached in view of the Company’s April 16, 2009 announcement that it is voluntarily seeking relief to reduce and restructure its debts under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. In addition, approximately 158 regional shopping centers owned by the Company and certain of its other subsidiaries have also filed for protection. Certain subsidiaries, including the Company’s third party management business and its joint ventures, have not filed for protection.
The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Application to the Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the Company of the NYSE Regulation staff decision. The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.
Company contacts:
David Keating
312-960-3625
See Section 802.00 of the NYSE Listed Company Manual for continued listing criteria and procedure for delisting
|
