Akers Biosciences, Inc. Update Re. Nasdaq Minimum Bid Price Requirement (7618P)
May 31 2018 - 2:25AM
UK Regulatory
TIDMAKR
RNS Number : 7618P
Akers Biosciences, Inc.
30 May 2018
May 31, 2018
Akers Biosciences, Inc.
Update Re. Nasdaq Minimum Bid Price Requirement
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers
Bio" or the "Company"), a developer of rapid health information
technologies, announces that, further to its announcement dated
December 1, 2017, on May 30, 2018, the Listing Qualifications
Department of the Nasdaq Stock Market ("Nasdaq") granted the
Company a 180-day extension to meet the requirement of a minimum
$1.00 per share closing bid price of its common stock for 10
consecutive business days (the "Bid Price Requirement") for
continued inclusion on the Nasdaq Capital Market.
As previously disclosed, the Company received notice from Nasdaq
on November 28, 2017, that it was not in compliance with the Bid
Price Requirements for its common stock. Per Nasdaq rules, the
Company was afforded an initial 180 calendar days to regain
compliance with the Bid Price Requirement. The Company provided a
written notice of its intention to cure the deficiency during the
second 180 calendar day compliance period by effecting a reverse
stock split, if necessary.
Following a review, Nasdaq determined that the Company was
eligible for an additional 180 calendar days to regain compliance
with the Bid Price Requirement. If at any time during the second
180 calendar day period the closing bid price of the Company's
common stock, for the required minimum 10 consecutive business day
period, meets the Bid Price Requirement and provided that the
Company meets the continued listing requirement for the market
value of publicly held shares and all other initial listing
standards, Nasdaq will provide the Company with written
confirmation that it is compliant with the Bid Price Requirement
and this matter will be closed.
About Akers Biosciences, Inc.
Akers Bio develops, manufactures, and supplies rapid screening
and testing products designed to deliver quicker and more
cost-effective healthcare information to healthcare providers and
consumers. The Company has advanced the science of diagnostics
while responding to major shifts in healthcare through the
development of several proprietary platform technologies. The
Company's state-of-the-art rapid diagnostic assays can be performed
virtually anywhere in minutes when time is of the essence. The
Company has aligned with major healthcare companies and high volume
medical product distributors to maximize product offerings, and to
be a major worldwide competitor in diagnostics.
Additional information on the Company and its products can be
found at www.akersbio.com. Follow us on Twitter @AkersBio.
Cautionary Note Regarding Forward-Looking Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements reflect the Company's expectations about its future
operating results, performance and opportunities that involve
substantial risks and uncertainties. The forward-looking statements
include statements or expectations regarding the Company's
compliance with the Bid Price Requirement, the Company's continued
listing on Nasdaq, other risks detailed in the Company's periodic
reports filed with the Securities and Exchange Commission and other
future events. Such statements may include, without limitation,
statements with respect to the Company's plans, compliance with the
requirements of various regulatory agencies, objectives,
projections, expectations and intentions and other statements
identified by words such as "projects, " "may," "will," "could,"
"would," "should," "believes," "expects," "anticipates,"
"estimates," "intends," "plans," "potential" or similar
expressions, as they relate to the Company, its subsidiaries, or
its management. These statements are based upon the current beliefs
and expectations of the Company's management and are subject to
significant risks and uncertainties, including those detailed in
the Company's filings with the Securities and Exchange Commission.
Actual results, performance, prospects, and opportunities to may
differ materially from those set forth in, or implied by, the
forward-looking statements. These forward-looking statements
involve certain risks and uncertainties that are subject to change
based on various factors (many of which are beyond the Company's
control). The Company undertakes no obligation to publicly update
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable law.
For more information:
Akers Biosciences, Inc.
John J. Gormally, Chief Executive Officer
Tel. +1 856 848 8698
finnCap (UK Nominated Adviser and Broker)
Adrian Hargrave / Scott Mathieson (Corporate Finance)
Steve Norcross (Broking)
Tel. +44 (0)20 7220 0500
Vigo Communications (Global Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7830 9704
Email: akers@vigocomms.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDLFFELEVIIVIT
(END) Dow Jones Newswires
May 31, 2018 02:25 ET (06:25 GMT)
Akers Biosciences (LSE:AKR)
Historical Stock Chart
From Apr 2024 to May 2024
Akers Biosciences (LSE:AKR)
Historical Stock Chart
From May 2023 to May 2024