Sky Solar Holdings, Ltd. Announces Extension of Time to Cure Deficiency
March 22 2019 - 9:46AM
Sky Solar Holdings, Ltd. (NASDAQ: SKYS) (“Sky Solar” or the
“Company”), a global developer, owner and operator of solar parks,
today announced it received a letter from Nasdaq notifying the
Company that it has been provided an additional 180 calendar day
period, or until September 16, 2019, to regain compliance with the
minimum $1 bid price per share requirement. The Company’s
eligibility for the additional period was based on meeting the
continued listing requirement for market value of publicly held
shares and all other applicable requirements for initial listing on
the Nasdaq Capital Market with the exception of the bid price
requirement, and the Company’s written notice of its intention to
cure the deficiency during the second compliance period by
effecting an ADS ratio change, if necessary. If at any time during
this additional time period the closing bid price of the Company’s
security is at least $1 per share for a minimum of 10 consecutive
business days, Nasdaq will provide written confirmation of
compliance and this matter will be closed. If compliance cannot be
demonstrated by September 16, 2019, Nasdaq will provide written
notification that the Company’s securities will be delisted. At
that time, the Company may appeal Nasdaq’s determination to a
Hearings Panel.
About Sky Solar Holdings, Ltd.
Sky Solar is a global independent power producer (“IPP”) that
develops, owns, and operates solar parks and generates revenue
primarily by selling electricity. Since its inception, Sky Solar
has focused on the downstream solar market and has developed
projects in Asia, South America, Europe, and North America. The
Company’s broad geographic reach and established presence across
key solar markets are significant differentiators that provide
global opportunities and mitigate country-specific risks. Sky Solar
aims to establish operations in select geographies with highly
attractive solar radiation, regulatory environments, power pricing,
land availability, financial access and overall power market
trends. As a result of its focus on the downstream photovoltaic
segment, Sky Solar is technology agnostic and is able to customize
its solar parks based on local environmental and regulatory
requirements. As of June 30, 2018, the Company owned and operated
203.5 MW of solar parks.
For investor and media inquiries, please contact:
Sky Solar:IR@skysolarholdings.com
SKYS Investor Relations:
The Blueshirt GroupUS or MandarinRalph Fong+1 (415)
489-2195ralph@blueshirtgroup.com
ChinaGary Dvorchak, CFA+86 (138)
1079-1480gary@blueshirtgroup.com
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