Globus Maritime Limited Announces Receipt of Nasdaq Notice of Deficiency
March 06 2020 - 9:00AM
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 March 2, 2020, 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
5550(a)(2). Pursuant to Nasdaq Listing Rules, the applicable grace
period to regain compliance is 180 days, or until August 31, 2020.
The Company intends to monitor the closing bid
price of its common stock between now and August 31, 2020 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
LimitedGlobus is an integrated dry bulk shipping company
that provides marine transportation services worldwide and
presently owns, operates and manages a fleet of five dry bulk
vessels that transport iron ore, coal, grain, steel products,
cement, alumina and other dry bulk cargoes internationally. Globus’
subsidiaries own and operate five vessels with a total carrying
capacity of 300,571 Dwt and a weighted average age of 11.8 years as
of December 31, 2019.
Safe Harbor StatementThis
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 LimitedAthanasios Feidakis, CEOCapitalLink – New
York Nicolas Bornozis |
+30 210 960 8300a.g.feidakis@globusmaritime.gr +1 212 661
7566globus@capitallink.com |
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