The FINANCIAL -- The New York Stock Exchange announced that the staff of
NYSE Regulation, Inc. has determined to commence
proceedings to delist the Preferred Stock of the
Mexico Equity & Income Fund, Inc. -- ticker symbol MXE
PR -- from the NYSE.
Trading in the Fund’s Preferred Stock will be suspended prior to the opening of trading on March 22, 2013.
NYSE Regulation has determined that the Preferred Stock is no longer suitable for listing because it does not meet the minimum continued listing distribution requirement of 100,000 publicly held shares outstanding as set forth in Section 802.01 of the NYSE Listed Company Manual.
As NYSE Euronext said, the Fund has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Application to the Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the Fund of the NYSE Regulation staff’s decision.
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