Motif Bio PLC announces a volunteer listing from the Nasdaq Capital Market
New York, November 26, 2019 (GLOBE NEWSWIRE) – Motif Bio PLC (AIM / Nasdaq MTFB at https://www.webull.com/quote/nasdaq-mtfb) (“Motif Bio” or “Company”) announced today that it has issued a formal notice to NASDAQ on November 25. The Company intends to voluntarily list listed warrants from US Depositary Shares (ATS) and Nasdaq Capital Markets 2019. Under Section 12 (b) of the Exchange Act, a Form 25 of the Securities and Exchange Commission (the “SEC”), the Notice of Removal of Listings and/or Or registration is what the company currently does Rparkkiratu. Or on December 5, 2019, with effect from the termination of its ATS and Warrants, not earlier than ten days. As a result, the company expects the last trading day of its ATS and warrants to be on the Nasdaq Capital Market by December 16, 2019.
After carefully reviewing the administrative burden and costs and benefits of being a Nasdaq-listed, reporting company, as well as the uncertainties of the company to repurchase and maintain the Nasdaq requirements for a continuous listing, the company automatically recovers its ATS and warrants from the Nasdaq Capital Market Unveiling has taken a decision. This is expected to be the savings material from the list.
Furthermore, in the first quarter of 2020, the Company is expected to file Form 15 with the SEC to discontinue its reporting obligations under Section 15 (d) of the Transaction Act (depending on the eligibility to do so).
On July 19, the company announced that it had received a defect notice from Nasdaq MTFB indicating that the company does not currently comply with the minimum market value (MVLS) standard of the listed securities to be listed on the NASDAQ Capital Market. Market Rule 5550 (b) (2) provides that at least $ 35 million of MVLS is required for at least 30 consecutive business days. Following Nasdaq’s terms, Motif Bio 2020 is 180 calendar days from January 14, or the date of notification, to comply with the Transaction Continuity List standard concerning the minimum MVLS.
On July 26, the company announced it had received a defect notice from Nasdaq, based on a review of Motif Bio’s business continuously for the past 30 business days, and the company would not meet the minimum bidding requirement for continued listing. Nasdaq Capital Market. Nasdaq Market Rule 5550 (a) (2) requires that the minimum bid price of Nasdaq Traded US Deposit Stocks (ATS) be the US $ 1.00. Following Nasdaq’s terms, Motif Bio 2020 is 180 calendar days from January 21, or the date of notification, to comply with the Transaction Continuity List standard concerning the minimum MVLS. You can also gain Nyse nrz news at https://www.webull.com/quote/nyse-nrz.