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
French real estate company Unibail-Rodamco SE Tuesday announced that it has entered into an agreement to acquire Australian shopping centre group Westfield Corp. in a deal that implies an enterprise value of $24.7 billion. The deal is expected to create the world's premier developer and operator of flagship shopping destinations with 61.1 billion euros or $72.2 billion of Gross Market Value. Aerospace and defense major Boeing's shares increased in the extended trading on Monday after the company announced a 20 percent increase in quarterly dividend and also boosted its share repurchase program to $18 billion, citing its strong and growing cash flow. Checkout the companies that are expected to release quarterly financial results on Tuesday, December 12, 2017. * ARWR to benefit from collaboration agreement with Amgen * Demand for PoS software, PaaS technologies to propel PAY Q4
comments powered by Disqus
Follow RTT