Aries Maritime Transport Limited (NASDAQ:RAMS) announced that it received notification from the NASDAQ Listing Qualifications department that it has regained compliance with the $1.00 minimum bid price requirement for continued listing set forth in Listing Rule 5450(a)(1), as its common stock has achieved a closing bid-price of $1.00 or more for 10 consecutive business days, and that this matter is now closed.
On September 16, 2009, NASDAQ notified the company that its common stock had fallen out of compliance with one of its standards for continued listing on the NASDAQ Global Market because the common stock failed to achieve at least a $1.00 closing bid price for 30 consecutive business days. The Company had been granted a grace period of 180 calendar days in which to regain compliance.
(www.ariesmaritime.com)