Locafy Receives Non-Compliance Notice Regarding Nasdaq Minimum Bid Price Requirement – GlobeNewswire
PERTH, AUSTRALIA, July 08, 2022 (GLOBE NEWSWIRE) — Locafy Limited (NASDAQ: LCFY, LCFYW) (“Locafy” or “the Company”), has received a deficiency notification letter (“Notice”) from the Listing Qualifications Staff of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the bid price for the Company’s Ordinary Shares had closed below $1.00 per share for the previous 30 consecutive business days.
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days from the date of such notice, or until December 27, 2022, to regain compliance with the minimum bid price requirement. To regain compliance, the bid price for the Company’s Ordinary Shares must close at $1.00 per share or more for a minimum of 10 consecutive business days.
Nasdaq’s written notice has no effect at this time on the listing or trading of the Company’s Ordinary Shares and the Ordinary Shares will continue to trade…
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source: https://news.oneseocompany.com/2022/07/08/locafy-receives-non-compliance-notice-regarding-nasdaq-minimum-bid-price-requirement-globenewswire_2022070823193.html
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