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Sunday, September 15, 2019 1:20:45 AM
1. Did he mean that we would trade on a major exchange again?
Besides making an error or misspeaking about GSEs stock trading, it is not known if Calabria, perhaps, was referring to relisting and trading on a major exchange.
2. Did he mean that we would trade at our real value again?
Given the words spoken, that seems unlikely.
3. Did he mean something else?
Perhaps. We will not know what that could be without his clarification.
I read on this forum that FnF could apply for uplisting under special circumstances as if there exceptions to the rules.
4. Can we uplist while in conservatorship?
Yes. Relisting can be done.
5. Can we uplist while our share price is lower than normal requirements?
To relist to a major exchange (i.e. NYSE) The GSEs must be able to return to compliance by fulfilling the rules and standards given by the major exchange.
NYSE
Rule 103B. Security Allocation and Reallocation
VI. POLICY NOTES
(B) Relistings
Relistings are treated as new listings and will be allocated through the allocation process pursuant to Exchange Rule 103B, Section III. If the relisting chooses to have its DMM unit selected by the Exchange pursuant to NYSE Rule 103B, Section III(B), and requests not to be allocated to its former DMM unit, such request will be honored. DMM units that are ineligible to receive a new allocation due to its failure to meet the requirements of NYSE Rule 103B, Section II(D) and (E) will remain eligible to receive an allocation pursuant to this section. - See the Exchange Rule 103B - https://bit.ly/2miW2rj
Although I think if news leaked of our application for uplist then share price would not be an issue.
Here is the NYSE listing process:
https://bit.ly/2mdn8ji
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