UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 13, 2019
Weatherford International public limited company
(Exact name of registrant as specified in its charter)

Ireland
001-36504
98-0606750
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
Weststrasse 1, 6340 Baar, Switzerland
CH 6340
(Address of principal executive offices)
(Zip Code)
  Registrant’s telephone number, including area code: +41.22.816.1500
 
 
 
 
(Former name or former address, if changed since last report)
 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Ordinary Shares, par value $0. 0 01 per share
WFT
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 





Item 3.01      Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On May 13, 2019, Weatherford International plc (the “Company”) received a letter from the New York Stock Exchange (the “NYSE”) confirming that the NYSE had suspended trading in the Company’s ordinary shares effective prior to the market open on May 13, 2019, and announcing its intention to commence proceedings to delist the Company’s ordinary shares from the NYSE. The NYSE stated that the Company is no longer suitable for listing based on the Company’s “abnormally low” price levels, pursuant to Section 802.01D of the NYSE Listed Company Manual. The NYSE also stated that, in making its determination, it also considered the Company’s announcement on May 10, 2019 that it had executed a Restructuring Support Agreement (“RSA”) and expects to implement the RSA through a pre-packaged Chapter 11 process. The Company intends to appeal NYSE’s decision to delist the Company’s ordinary shares in accordance with the NYSE rules.

Trading of the Company’s ordinary shares on the OTC Bulletin Board or “pink sheets” market commenced on May 14, 2019 under the symbol “WFTIF.”




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
 
Weatherford International plc
Date:
May 16, 2019
 
 
 
 
 
By:
/s/ Christina M. Ibrahim
 
Name:
Christina M. Ibrahim
 
Title:
Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary





Weatherford (NYSE:WFT)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Weatherford Charts.
Weatherford (NYSE:WFT)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Weatherford Charts.