Internet Gold Receives Non-Compliance Notice From Nasdaq Regarding Maintenance of a Minimum Market Value of Publicly Held Sha...
June 03 2019 - 4:10PM
Internet Gold - Golden Lines Ltd. (the “Company”) (NASDAQ
Global Select Market and TASE: IGLD), a holding company whose
principal asset is a 51.95% stake in B Communications Ltd. (“B
Communications”) (NASDAQ and TASE: BCOM), our subsidiary that
owns 26.34% of Bezeq The Israel Telecommunications Corporation
Limited, the leading communication group in Israel (TASE: BEZQ),
today reported that it received a notice from the Listing
Qualifications Department of Nasdaq advising the Company that it is
not in compliance with Rule 5450(b)(1)(C) requiring maintenance of
a minimum market value of publicly held shares (MVPHS) of
$5,000,000.
The Company has a 180 days' period, until December 2,
2019, to regain compliance with the $5,000,000 MVPHS. If the
MVPHS closes at $5,000,000 or more for a minimum of ten consecutive
business days, the Company will regain of compliance and the matter
will be closed.
In the event the Company does not regain compliance
with the Rule prior to the expiration of the compliance period, it
will receive written notification that its securities are subject
to delisting. Alternatively, the Company may apply to transfer the
Company’s securities to The Nasdaq Capital Market, subject to
meeting the Nasdaq Capital Market’s continued listing
requirements.
About Internet Gold
Internet Gold is a telecommunications-oriented
holding company whose principal asset is a 51.95% stake in B
Communications Ltd., the owner of 26.34% of outstanding shares of
Bezeq The Israel Telecommunication Corporation Limited, the leading
communications group in Israel. For more information, please visit
the following Internet sites:
www.igld.comwww.bcommunications.co.ilwww.ir.bezeq.co.il
Forward-Looking Statements
This press release contains forward-looking
statements that are subject to risks and uncertainties.
Factors that could cause actual results to differ materially from
these forward-looking statements include, but are not limited to,
general business conditions in the industry, changes in the
regulatory and legal compliance environments, the failure to manage
growth and other risks detailed from time to time in B
Communications' filings with the Securities Exchange
Commission. These documents contain and identify other
important factors that could cause actual results to differ
materially from those contained in our projections or
forward-looking statements. Stockholders and other readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they are made.
We undertake no obligation to update publicly or revise any
forward-looking statement.
For further information, please
contact:
Yuval Snir– IR
Manageryuval@igld.com / Tel:
+972-3-924-0000
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