logo
Share SHARE
FONT-SIZE Plus   Neg

Newlead Holdings Regains Nasdaq Compliance After Achieving Required Bid Price

Shipping company Newlead Holdings Ltd. (NEWL: Quote) 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
Fortune has once again named Google Inc. (GOOG, GOOGL) as the best company to work for, with Twitter Inc. (TWTR) also joining the annual list for the first time. This is for the sixth time and for the fourth consecutive time that Google has ranked No.1 in the Fortune's annual list of "100 Best Companies... Dunkin' Donuts has agreed to remove a whitening agent called titanium dioxide, commonly a source of nanomaterials, from all powdered sugar used in its donuts. The move follows pressure from advocacy group As You Sow, which put a shareholder proposal asking Dunkin' to reduce the risks of using nanomaterials in its food products. Warren Buffett's Berkshire Hathaway is reportedly planning its first ever European bond sale of 3 billion euros to take advantage of low interest rates in the region, traversing a path taken by a range of home companies in search of cheap funding options. The move comes as the European Central Bank's bond-buying stimulus program of 60 billion euros a month is imminent.
comments powered by Disqus
Follow RTT