NYSE to Commence Delisting Proceedings Against Gol Linhas Aéreas Inteligentes S.A. (GOL)
NEW YORK, January 26, 2024--(BUSINESS WIRE)--The New York Stock Exchange LLC ("NYSE" or "Exchange") announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the American Depositary Shares ("ADSs"), each representing two Preferred Shares of Gol Linhas Aéreas Inteligentes S.A. (the "Company") — ticker symbol GOL — from the NYSE. Trading in the Company’s ADSs will be suspended immediately.
NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to Listed Company Manual Section 802.01D after the Company’s January 25, 2024 disclosure on Form 6-K filed with the Securities and Exchange Commission that the Company and its subsidiaries have voluntarily filed for Chapter 11 in the United States Bankruptcy Court for the Southern District of New York. In reaching its delisting determination, NYSE Regulation noted the uncertainty as to the ultimate effect of this process on the value of the Company’s ADSs.
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 ADSs upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.
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Contacts
Company Contacts:
Investor Contact
ri@voegol.com.br
www.voegol.com.br/ir
NYSE Contact:
NYSE Communications
PublicRelations-NYSE@ice.com
