June 11, 2019
Houston’s Camber Energy is back in compliance with New York Stock Exchange listing standards.
The company said it received a letter from the NYSE stating that previous problems stemming from its low trading price.
Louis G. Schott, Interim CEO of Camber said, “We are delighted to be back in compliance with all of the NYSE American listing standards.
“Our re-compliance could not have been possible without the 1-for-25 reverse split which we affected in December 2018.
“We are looking forward to completing our previously announced combination transaction with Lineal Star Holdings and continuing to build shareholder value.”
Camber is getting close to completion of its acquisition of Lineal, the pipeline and specialty construction services company based in Houston and Bridgeville, PA.
A letter of intent to purchase Lineal was announced almost two months ago.
Lineal Star Holdings is owned by Houston investment group Corporate Strategies Merchant Bankers, which bought the 57-year-old company last July.
Camber was down more than 3% on Tuesday to close at $0.20 a share.