0000876661-13-000293.txt : 20130503
0000876661-13-000293.hdr.sgml : 20130503
20130503141605
ACCESSION NUMBER: 0000876661-13-000293
CONFORMED SUBMISSION TYPE: 25-NSE
PUBLIC DOCUMENT COUNT: 2
FILED AS OF DATE: 20130503
DATE AS OF CHANGE: 20130503
EFFECTIVENESS DATE: 20130503
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: GMX RESOURCES INC
CENTRAL INDEX KEY: 0001127342
STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311]
IRS NUMBER: 731534474
STATE OF INCORPORATION: OK
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 25-NSE
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-32977
FILM NUMBER: 13811940
BUSINESS ADDRESS:
STREET 1: ONE BENHAM PLACE
STREET 2: SUITE 600
CITY: OKLAHOMA CITY
STATE: OK
ZIP: 73114
BUSINESS PHONE: 4056000711
MAIL ADDRESS:
STREET 1: ONE BENHAM PLACE
STREET 2: SUITE 600
CITY: OKLAHOMA CITY
STATE: OK
ZIP: 73114
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: NEW YORK STOCK EXCHANGE LLC
CENTRAL INDEX KEY: 0000876661
IRS NUMBER: 000000000
STATE OF INCORPORATION: NY
FILING VALUES:
FORM TYPE: 25-NSE
BUSINESS ADDRESS:
STREET 1: 11 WALL STREET
CITY: NEW YORK
STATE: NY
ZIP: 10005
BUSINESS PHONE: 212-656-2060
MAIL ADDRESS:
STREET 1: 11 WALL STREET
CITY: NEW YORK
STATE: NY
ZIP: 10005
FORMER COMPANY:
FORMER CONFORMED NAME: NEW YORK STOCK EXCHANGE INC
DATE OF NAME CHANGE: 19910628
25-NSE
1
primary_doc.xml
X0203
0000876661
NEW YORK STOCK EXCHANGE LLC
1127342
GMX RESOURCES INC
001-32977
9400 Broadway Ext Ste 600
Oklahoma City
OK
OKLAHOMA
73114-7428
(405) 600-0711
Common Stock
17 CFR 240.12d2-2(b)
Edwin Mecabe
Director
2013-05-03
EX-99.25
2
ruleprovisionnotice.htm
NOTIFICATION OF THE REMOVAL FROM LISTING AND REGISTRATION OF THE STATED SECURITIES OF GMX RESOURCES, INC.
New York Stock Exchange LLC (the 'Exchange' or the 'NYSE') hereby notifies the Securities and Exchange Commission ('SEC') of its intention to remove the entire class of each of the Common Stock and the 9.25% Series B Cumulative Preferred Stock (collectively, the 'Securities') of GMX Resources, Inc. (the 'Company') from listing and registration on the Exchange at the opening of business on May 14, 2013, pursuant to the provisions of SEC Rule 12d2-2(b), because, in the opinion of the Exchange, the Securities are no longer suitable for continued listing and trading on the Exchange. Pursuant to Listed Company Manual Section 802.01D, NYSE Regulation made this determination on behalf of the Exchange because of the Company's April 1, 2013 announcement that it had filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Western District of Oklahoma ('Chapter 11 filing'). In making its delisting determination, NYSE Regulation noted the uncertainty as to the timing and outcome of the bankruptcy process, as well as the uncertainty with respect to the ultimate effect of the Company's Chapter 11filing on the economic rights of holders of the Securities.
The Company had previously fallen below the NYSE's continued listing standard requiring average global market capitalization over a consecutive 30 trading day period of at least $50 million and latest reported shareholders' equity of at least $50 million and NYSE Regulation was awaiting the Company's submission of a business plan under which the Company would have proposed to regain compliance with the applicable continued listing standard within a specified time period, subject to NYSE Regulation's acceptance of the plan. However, in light of the subsequent Chapter 11 filing, NYSE Regulation no longer believes it is appropriate for the Company to avail itself of the compliance plan process and has determined to take immediate delisting action with respect to the Company.
1. The Exchange's Listed Company Manual (the 'LCM'), subsection 802.01D (Bankruptcy and/or Liquidation), states that the Exchange would normally give consideration to delisting a security of a company when an 'intent to file under any of the sections of the bankruptcy law has been announced or a filing has been made or liquidation has been authorized and the company is committed to proceed.'
2. The Exchange, on April 1, 2013, determined that the Securities of the Company should be suspended immediately from trading, and directed the preparation and filing with the Commission of this application for the removal of the Securities from listing and registration on the Exchange. The Company was notified by letter on April 2, 2013.
3. Pursuant to the above authorization, a press release was immediately issued and an announcement was made on the 'ticker' of the Exchange immediately and at the close of the trading session on April 1, 2013 of the suspension of trading in the Securities. Similar information was included on the Exchange's website.
4. The Company had a right to appeal to the Committee for Review of the Board of Directors of NYSE Regulation the determination to delist its Securities, provided that it filed a written request for such a review with the Secretary of the Exchange within ten business days of receiving notice of delisting determination. The Company did not file such request within the specified time period.
5. Based on the foregoing, the Exchange represents that all conditions precedent under the provisions of SEC Rule 12d2-2(b) to the filing of this Form 25 have been met.