logo
Share SHARE
FONT-SIZE Plus   Neg

Newlead Holdings Regains Nasdaq Compliance After Achieving Required Bid Price

Shipping company Newlead Holdings Ltd. (NEWL) said Wednesday that it has regained compliance with the Nasdaq as its common shares achieved a bid price of $1.00 or more for 10 consecutive business days.

On September 21, 2011, Newlead received a notification from Nasdaq that the company was not in compliance with one of the standards for continued listing on the Nasdaq Global Select Market because the closing bid price of its common shares had fallen below $1.00 for 30 consecutive business days.

The company was granted a grace period of 180 days to regain compliance, which expired on March 20, 2012. On March 20, Newlead received a written notification from Nasdaq indicating that the company had not complied with the rule and that its share would be subject to delisting from the Nasdaq Global Select Market.

But now, after achieving the required bid price, Newlead has received a written notification from the Nasdaq Listing Qualifications department that it has regained compliance.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
British American Tobacco plc Tuesday said it has agreed to buy the remaining 57.8 percent of Reynolds American Inc. it does not already own in $49.4 billion cash and stock deal. The companies said the deal would create a stronger, truly global tobacco and Next Generation Products company. The British tobacco major currently owns 42.2 percent of Reynolds. Ringling Bros. and Barnum & Bailey Circus, called as the Greatest Show on Earth, is coming to and end after 146 years of live entertainment. The decision reflects higher operating costs, and bigger than expected decline in ticket sales, mainly after the transition of the elephants off the circus. An investigation by Samsung Electronics Co Ltd. has found out that battery caused the fire issues with the abandoned Galaxy Note 7 smartphones, Reuters reported Monday, citing people familiar with the matter. The South Korean conglomerate has concluded the investigation into the explosions that resulted in the massive recall of Galaxy Note 7.
comments powered by Disqus
Follow RTT