Athens-based shipping company Diana Containerships has received written notification from the Nasdaq Stock Market LLC stating that it no longer meets the minimum bid price requirement for the Nasdaq Global Select Market.
The company’s closing bid price for its common stock was below USD 1 per share for the last 30 consecutive business days, according to the notification.
Diana Containerships now has a grace period of 180 calendar days, or until July 12, 2016, to regain compliance.
The notification letter has no effect at this time on the listing of the company’s common stock.
“The company can also cure this deficiency if the closing bid price of its common stock is USD 1 per share or higher for at least 10 consecutive business days during the grace period.
“In the event the company does not regain compliance within the 180-day grace period and it meets all other listing standards and requirements, the company may be eligible for an additional 180-day grace period if it transfers to the Nasdaq Capital Market,” Diana Containerships said.