TouchPal is warned by the NYSE: ADS transaction price is lower than compliance standards

Time:2021-12-31 Source: 970 views Trending Copy share

December 15, learned the state capital, December 14, stocks of listed companies TouchPal (CTK.US) announced receipt of the NYSE notification letter on December 6, 2021 issued to inform its American Depositary Shares ( ADS ) The transaction price is lower than the compliance standard.

According to NYSE Rule 802.1 c, if a company 30 consecutive trading days average closing price of less than $ 1, the company will be considered below the standards of compliance. The company must raise its stock price and average stock price to more than $1 within 6 months of receiving the notice.

For example, during the last trading day of any calendar month during the 6-month buffer period, the company’s closing price is at least $1, and the average closing price within 30 trading days ending on the last trading day of the month is at least 1. U.S. dollars, the company can achieve compliance.

If the 6-month buffer period expires, the closing price on the last trading day of the period does not reach US$1 per share, and the average closing price within 30 trading days after the last trading day of the buffer period has not reached US$1 per share, NYSE The company will initiate suspension and delisting procedures.

To solve this problem, TouchPal said it plans to continue to monitor the market conditions of its securities and is still considering options.

As of the close of trading on December 14, TouchPal's share price was US$0.539, a decrease of 7.04%.

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