CHLN News
China Housing & Land Development Inc. Announces Receipt of NASDAQ Notice of Bid Price Deficiency
8:30a ET December 29, 2014 (PR NewsWire) Print
China Housing & Land Development, Inc. ("China Housing" or the "Company"; Nasdaq: CHLN) today announced that it received notice from the NASDAQ OMX GROUP ("Nasdaq") stating that the bid price of the Company's common stock for the last 30 consecutive business days had closed below the minimum $1.00 per share required for continued listing by the continued listing requirements of NASDAQ listing rule 5450(a)(1).
In accordance with listing rule 5810(c)(3)(A), the Company has 180 calendar days, or until June 20, 2015, to regain compliance with the minimum bid price rule. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of ten consecutive business days (or such longer period of time as the NASDAQ staff may require in some circumstances, but generally not more than 20 consecutive business days) before June 20, 2015. In the event the Company does not regain compliance within this compliance period, it may still be eligible for an additional period to regain compliance under certain circumstances.
The Company intends to actively monitor the closing bid price of its common stock between now and June 20, 2015 and will evaluate available options to resolve the deficiency and regain compliance with the minimum bid price rule.
