Company Intends to File Appeal and Implement 1:30 Reverse Stock Split
NEW YORK, April 22, 2024 (GLOBE NEWSWIRE) -- Selina Hospitality PLC ("Company"; NASDAQ: SLNA), a global lifestyle and experiential hospitality company catering to millennial and Gen Z travelers, today announced that on April 17, 2024, the Company received a staff determination letter (the "Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company of the staff's intention to commence the process to delist the Company's securities because the Company's securities have had a closing bid price below $0.10 for ten consecutive trading days, which triggers a notice of delisting pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the "Low Priced Stocks Rule").
In addition to the Letter, as previously disclosed, the Company has been on notice since September 8, 2023, that the closing bid price of its securities had fallen below $1.00 for 30 consecutive business days in violation of Nasdaq Listing Rule 5810(c)(3)(A) (the "Minimum Bid Price Rule") and since such date the Company has not regained compliance. On March 7, 2024, following the transfer of the Company's securities to the Nasdaq Capital Market, the Company was granted an additional 180 calendar day period, or until September 3, 2024, to regain compliance with the Minimum Bid Price Rule. If the Company's securities fail to regain compliance with the Minimum Bid Price Rule before such date, Nasdaq will have an additional basis for delisting the Company's securities.
The Company currently plans to appeal the staff's determination to a Hearings Panel (the "Panel"). A hearing request will stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision. This hearing has yet to be scheduled, but once the Company's request for a hearing has been submitted to Nasdaq, the hearing is expected to be held within the next 45 days.
The Company intends to monitor the closing bid price of its common stock and may consider implementing available options to regain compliance with the Minimum Bid Price Rule for continued listing on the Nasdaq Capital Market, if needed. Achieving compliance likely would involve the implementation of the 1:30 reverse stock split that was approved by shareholders at the Company's general shareholder meeting on March 26, 2024. The Company has issued today a Report on Form 6-K providing more detail on the delisting notice.
公司打算提出上訴並實施 1:30 反向股票拆分
紐約，2024年4月22日（GLOBE NEWSWIRE）——面向千禧一代和Z世代旅行者的全球生活方式和體驗式酒店公司Selina Hospitality PLC（“公司”；納斯達克股票代碼：SLNA）今天宣佈，2024年4月17日，公司收到納斯達克股票市場有限責任公司（“納斯達克”）上市資格部門的員工決定信（“信函”），通知公司員工的意向啓動公司證券的退市程序，因爲公司證券的收盤出價低於0.10美元連續十個交易日，根據納斯達克上市規則 5810 (c) (3) (A) (iii)（“低價股票規則”），這將觸發退市通知。
除此前披露的信函外，該公司自2023年9月8日以來一直注意到，其證券的收盤出價已連續30個工作日跌破1.00美元，這違反了納斯達克上市規則5810（c）（3）（A）（“最低出價規則”），自那時起，公司一直未恢復合規。2024年3月7日，在公司證券向納斯達克資本市場轉讓後，公司獲准再延長180個日曆日，或直到2024年9月3日，以恢復對最低出價規則的遵守。如果公司的證券未能在該日期之前恢復遵守最低出價規則，那麼納斯達克將有額外的依據將公司的證券退市。
該公司目前計劃就員工的決定向聽證小組（“小組”）提出上訴。在小組做出決定之前，聽證會請求將暫停公司證券和提交25-NSE表格。本次聽證會尚未安排，但一旦公司向納斯達克提交聽證會請求，聽證會預計將在未來45天內舉行。
該公司打算監控其普通股的收盤價，並可能考慮實施可用期權，以恢復對繼續在納斯達克資本市場上市的最低出價規則的遵守。實現合規可能涉及實施股東在2024年3月26日公司股東大會上批准的 1:30 反向股票拆分。該公司今天發佈了表格6-K的報告，提供了有關除名通知的更多細節。
