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Parker Drilling Approves Plan to Voluntarily Terminate Registration of its Common Stock with the SEC; Voluntarily Delists from the NYSE

By Criterion Research
September 11, 2019 -

Parker Drilling plans to terminate registration of its common stock with the SEC and delist from the NYSE. The Company's board says the cost of being a public reporting company outweigh the benefits and it is no longer in the best interest of shareholders to remain a public reporting company. 

Parker Drilling must reduce its number of stockholders of record to below 300 in order to de-register its shares. Therefore, the Company plans to effect a 1-for-100 reverse stock split, subject to shareholder approval. 


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