Medical Properties’ Listing on Exchange Is in Jeopardy
Medical Properties Inc., an Encino-based real estate investment trust, said its listing on the American Stock Exchange may be in jeopardy.
The trust, which owns medical facilities in California and Oregon, said it was notified in writing by the exchange that because of its weak financial condition Medical Properties is not in compliance with certain listing requirements, including the low market value of its stock and low net worth.
Medical Properties said it expects a decision regarding its listing on the exchange to be made by May 23. If it is delisted, shares of the trust would trade only in the over-the-counter market.
The trust’s problems stem from the non-payment of much of the rent owed by units of Nu-Med Inc. of Encino, which leases Medical Properties’ buildings.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
