Nasdaq share price8 Mar 2019 07:26
November RNS
RNS Number : 1116G
Midatech Pharma PLC
01 November 2018
1 November 2018
Midatech Pharma PLC
("Midatech", "Company" or "Group")
NASDAQ Minimum Bid Price Extension
Midatech Pharma (AIM: MTPH, Nasdaq: MTP), the R&D company focused on delivering innovative oncology and rare disease products to patients, announces that, as previously disclosed, on 1 May, 2018, Midatech Pharma PLC (the "Company") received a letter ("Notification Letter") from The Nasdaq Stock Market LLC ("NASDAQ") providing notification that, for the previous 30 consecutive business days, the bid price for the Company's American Depositary Shares had closed below the minimum $1.00 bid price per share requirement for continued listing on The NASDAQ Capital Market under NASDAQ Listing Rule 5550(a)(2). Each American Depositary Share represents two ordinary shares of the Company.
On 30 October 2018, the Company was notified by NASDAQ that its American Depositary Shares have not regained the minimum $1.00 bid price per share requirement within the 180 calendar days following receipt of the Notification Letter. However, NASDAQ has determined that the Company is eligible for an additional 180 calendar day period, pursuant to NASDAQ Listing Rule 5810(c)(3)(A), or until 29 April 2019, to regain the minimum $1.00 bid price per share requirement. This will be met if, at any time during this 180 days period, the closing bid price of the Company's American Depositary Shares is at least $1.00 for a minimum of ten consecutive business days.
The Company's ordinary shares are listed on the AIM Market of the London Stock Exchange, and the Notification Letter from NASDAQ does not affect the Company's compliance status with such listing.
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For more information, please contact:
Midatech Pharma PLC
Craig Cook, CEO