NYSE to Commence Delisting Proceedings Against BP Prudhoe Bay Royalty Trust (BPT)

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the units of beneficial interest (“Units”) of BP Prudhoe Bay Royalty Trust (the “Company”) — ticker symbol BPT — from the NYSE. Trading in the Company’s Units will be suspended immediately.

NYSE Regulation reached its decision to delist the Company’s Units pursuant to Listed Company Manual Section 802.01C, as the Company had fallen below the NYSE’s continued listing standard for average closing price of less than $1.00 over a consecutive 30 trading-day period and failed to cure this non-compliance within the required timeframe.

The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Company’s Units upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.