Globus Maritime Limited Announces Receipt of Nasdaq Notice of Deficiency
May 04 2018 - 4:05PM
Globus Maritime Limited (the “Company" or ”Globus”) (NASDAQ:GLBS),
a dry bulk shipping company, announced today it has received
written notification from The Nasdaq Stock Market (“Nasdaq”) dated
April 30, 2018, indicating that because the closing bid price of
the Company’s common stock for the last 30 consecutive
business days was below $1.00 per share, the Company no longer
meets the minimum bid price continued listing requirement for the
Nasdaq Capital Market, as set forth in Nasdaq Listing Rule
5450(a)(1). Pursuant to Nasdaq Listing Rules, the applicable grace
period to regain compliance is 180 days, or until October 29, 2018.
The Company intends to monitor the closing bid
price of its common stock between now and October 29, 2018 and is
considering its options, including a potential reverse stock split,
in order to regain compliance with the Nasdaq Capital Market
minimum bid price requirement. The Company can cure this deficiency
if the closing bid price of its common stock is $1.00 per share or
higher for at least ten 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 it may be eligible for an additional 180-day grace
period.
The Company intends to cure the deficiency within
the prescribed grace period. During this time, the Company’s common
stock will continue to be listed and trade on the Nasdaq Capital
Market.
The company’s business operations are not affected
by the receipt of the notification.
About Globus Maritime Limited
Globus is an integrated dry bulk shipping company
that provides marine transportation services worldwide and
presently owns, operates and manages a fleet of dry bulk vessels
that transport iron ore, coal, grain, steel products, cement,
alumina and other dry bulk cargoes internationally. Globus’s
subsidiaries own and operate 5 vessels with a total carrying
capacity of 300,571 DWT and a weighted average age of 9.8 years as
of December 31, 2017.
Safe Harbor
Statement
This communication contains “forward-looking
statements” as defined under U.S. federal securities laws.
Forward-looking statements provide the Company’s current
expectations or forecasts of future events. Forward-looking
statements include statements about the Company’s expectations,
beliefs, plans, objectives, intentions, assumptions and other
statements that are not historical facts or that are not present
facts or conditions. Words or phrases such as “anticipate,”
“believe,” “continue,” “estimate,” “expect,” “intend,” “may,”
“ongoing,” “plan,” “potential,” “predict,” “project,” “will” or
similar words or phrases, or the negatives of those words or
phrases, may identify forward-looking statements, but the absence
of these words does not necessarily mean that a statement is not
forward-looking. Forward-looking statements are subject to known
and unknown risks and uncertainties and are based on potentially
inaccurate assumptions that could cause actual results to differ
materially from those expected or implied by the forward-looking
statements. The Company’s actual results could differ materially
from those anticipated in forward-looking statements for many
reasons specifically as described in the Company’s filings with the
Securities and Exchange Commission. Accordingly, you should not
unduly rely on these forward-looking statements, which speak only
as of the date of this communication. Globus undertakes no
obligation to publicly revise any forward-looking statement to
reflect circumstances or events after the date of this
communication or to reflect the occurrence of unanticipated events.
You should, however, review the factors and risks Globus describes
in the reports it will file from time to time with the Securities
and Exchange Commission after the date of this communication.
For
further information please
contact: |
|
|
|
Globus Maritime
Limited |
|
+30 210 960 8300 |
Athanasios Feidakis,
CEO |
|
a.g.feidakis@globusmaritime.gr |
|
|
|
Capital Link – New
York |
|
+1 212 661 7566 |
Nicolas
Bornozis |
|
globus@capitallink.com |
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