Sify regains compliance with Nasdaq Minimum Bid Price requirement
October 05 2017 - 10:32AM
Sify Technologies Limited (NASDAQ: SIFY), headquartered at Chennai,
a leader in Telecom and Data Center centric IT services in India
with global delivery capabilities, today announced it received a
letter from Nasdaq confirming that it has regained compliance with
the minimum bid price requirement for continued listing on The
Nasdaq Capital Market.In December 2016, Nasdaq had notified the
Company that its common stock failed to maintain a minimum bid
price of $1.00 over the previous 30 consecutive business days as
required by the Listing Rules of The Nasdaq Stock
Market. Since then, Nasdaq has determined that from
September 14 to 27, 2017, the closing bid price of the Company’s
common stock has been at $1.00 per share or greater. In
a letter dated September 28, 2017, Nasdaq notified Sify that it has
regained compliance with Listing Rule 5550(a)(2) and the matter is
now closed.
About Sify Technologies:
Sify Technologies Limited (NASDAQ NM: SIFY), is an acknowledged
ICT leader in the Telecom and Data Center centric IT services space
with global delivery capabilities. Among the very few Integrated
ICT players in India, Sify, today has presence in 1500 cities in
India and in North America, United Kingdom and Singapore. More
than 9000 Enterprises access Sify’s IT services that’s focused on
the Data Center and Cloud platform and connected through India’s
largest MPLS network. As a truly converged ICT solutions and
services provider, Sify is the preferred IT Services partner with a
full suite of services ranging from Telecom connectivity services
to Data Center transformation services along with Application and
Security Services delivered on the same infrastructure. Sify,
Sify Technologies and www.sifycorp.com are registered trademarks of
Sify Technologies Limited.
Forward Looking Statements:
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. The forward-looking statements contained herein are
subject to risks and uncertainties that could cause actual results
to differ materially from those reflected in the forward-looking
statements. Sify undertakes no duty to update any forward-looking
statements. For a discussion of the risks associated with
Sify’s business, please see the discussion under the caption “Risk
Factors” in the company’s Annual Report on Form 20-F for the year
ended March 31, 2017, which has been filed with the United States
Securities and Exchange Commission and is available by accessing
the database maintained by the SEC at www.sec.gov, and Sify’s other
reports filed with the SEC. For further information, please
contact:
Praveen Krishna
Sify Technologies Limited
+91 9840926523
praveen.krishna@sifycorp.com
Nikhila Kesavan
20:20 Media
+91 9840124036
nikhila.kesavan@2020msl.com
Shiwei Yin
Grayling Investor Relations
+1 646 284 9474
Shiwei.Yin@grayling.com
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