HOUSTON, Jan. 29, 2020 /PRNewswire/ — Parker Conduct Company (NYSE: PKD) (the “Company”) today filed a Form 25 with the Securities and Exchange Commission (“SEC”) to voluntarily delist its shares of accepted banal from trading on the New York Banal Exchange in affiliation with its ahead appear plan to deregister its accepted banal beneath the Securities Exchange Act of 1934, as adapted (the “Exchange Act”). The Company expects that the delisting will action ten agenda canicule afterwards the filing of the Form 25 so that trading will be abeyant on February 10, 2020 above-mentioned to the bazaar opening. Following the delisting, the Company’s Board of Directors (the “Board”) will appraise adapted buying abstracts to ascertain the accumulated costs aural the ranges of banal breach ratios that the Company’s stockholders accustomed at a adapted affair on January 9, 2020. Based aloft this analysis, the Board will actuate the adapted arrangement to accomplish a about-face banal split, which will be followed anon by a advanced banal split. As ahead disclosed, the Board, at its sole discretion, may accept to carelessness the banal splits and the all-embracing deregistration action for any reason, including if it determines that effectuating the banal splits would be too costly. Assuming the Board determines to advance with the banal splits and the all-embracing deregistration process, the Company will book with the State of Delaware certificates of alteration to the Company’s affidavit of assimilation to accomplish the banal splits. Following the capability of the banal splits, the Company will book a Form 15 with the SEC certifying that it has beneath than 300 stockholders, which will abolish the allotment of the Company’s accepted banal beneath Section 12(g) of the Exchange Act. At this time, the Company believes that any about-face banal breach arrangement aural the ahead accustomed ambit would abate the cardinal of almanac holders beneath 300, which is the akin at or aloft which the Company is appropriate to book letters with the SEC.
For added advice apropos the Company’s deregistration and delisting transaction, amuse accredit to the absolute proxy account on Schedule 14A filed with the SEC on November 25, 2019.
About Parker Drilling
Parker Conduct provides conduct casework and rental accoutrement to the activity industry. The Company’s Conduct Casework business serves operators through the use of Parker-owned and customer-owned rig fleets in baddest U.S. and all-embracing markets, specializing in alien and acrid ambiance regions. The Company’s Rental Accoutrement Casework business food exceptional accessories and able-bodied casework to operators on acreage and adopted in the U.S. and all-embracing markets. Added advice about Parker Conduct can be begin on the Company’s website at www.parkerdrilling.com.
This columnist absolution may accommodate advanced statements that are actuality fabricated pursuant to the Private Securities Litigation Reform Act of 1995, which provides a “safe harbor” for advanced statements to animate companies to accommodate -to-be advice so continued as those statements are accompanied by allusive cautionary statements anecdotic important factors that could account absolute after-effects to alter materially from those discussed in the statement. Such advanced statements accommodate statements about the perceived allowances and costs of the proposed transaction, the cardinal of shares of the Company’s accepted banal that are accepted to be cashed out in the proposed transaction and the timing and stockholder approval of the proposed transaction. Such advanced statements are accountable to a cardinal of accepted and alien risks and uncertainties that could account absolute results, achievement or achievements to alter materially from those declared or adumbrated in such advanced statements. Accordingly, absolute after-effects may alter materially from such advanced statements. The advanced statements apropos to the transaction discussed aloft are based on the Company’s accepted expectations, assumptions, estimates and projections about the Company and absorb cogent risks and uncertainties, including the abounding variables that may appulse the Company’s projected amount savings, variables and risks accompanying to cleanup of the proposed transaction, SEC authoritative analysis of the Company’s filings accompanying to the proposed transaction, and the continuing assurance of the Board of Directors and the Finance and Strategic Planning Committee that the proposed transaction is in the best interests of all stockholders. The Company assumes no obligation for afterlight any such advanced statements to reflect absolute results, changes in assumptions or changes in added factors affecting such advanced statements.
Investor Relations( 1) (281) [email protected]
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SOURCE Parker Conduct Company
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