Sea Containers’ shares suspended
The New York Stock Exchange has suspended the trading of Sea Containers Ltd.’s common shares and senior notes as the struggling London-based container leasing and ferries company is still to file its 2005 annual report or any quarterly reports for this year with the Securities and Exchange Commission.
The NYSE will also submit an application to the Securities and Exchange Commission to delist these securities.
“Sea Containers has informed the NYSE that, due to its focus on its proposed restructuring and potential reorganization and the fact that the company remains uncertain as to when it will be able to file its annual report, the company is not in a position to contest the involuntary suspension and proposed delisting,” Sea Containers said in a statement. “The company expects these securities to be delisted from the NYSE upon approval by the Securities and Exchange Commission.”
In July, Sea Containers completed the $585 million sale of its Baltic ferry subsidiary Silja to Estonian ferry operator Tallink, with most of the money being designated to repay about $503 million of bank debt.
Sea Containers’ shares suspended
