TOP Ships Shares Fall Below NASDAQ Par

August 27, 2012

Greek-based shipowners TOP Ships Inc. announces receipt of Nasdaq notice.

TOP SHIPS Inc. is engaged in the worldwide transportation of liquid and petroleum cargoes as well as dry bulk cargoes through the ownership of a fleet of 6 tankers and 1 dry bulk carrier.

TOP Ships Inc. announce  that it has received written notification from the Nasdaq Stock Market ("Nasdaq"), indicating that because the market value of the Company's publicly held shares for the previous 30 consecutive business days was below the minimum $5,000,000 requirement for continued listing on the Nasdaq Global Select Market, the Company is not in compliance with Nasdaq Listing Rule 5450(b)(1)(C). The applicable grace period to regain compliance is 180 days.

This notification has no effect on the listing of the Company's common stock at this time.

The Company intends to monitor the market value of its publicly held shares between now and February 19, 2013, the expiration of the 180-day grace period, and is considering its options in order to regain compliance with this Nasdaq requirement.



 

Logistics News

Great Lakes Limestone Trade Up in June

Great Lakes Limestone Trade Up in June

Consilium Safety Group Appoints New Chairman of the Board

Consilium Safety Group Appoints New Chairman of the Board

AAL Shipping Unveils Sixth Heavy Lift Super B-Class Vessel

AAL Shipping Unveils Sixth Heavy Lift Super B-Class Vessel

MDL Leases Land for Peterhead Offshore Project Support Site

MDL Leases Land for Peterhead Offshore Project Support Site

Subscribe for Maritime Logistics Professional E‑News

China regulator approves ANA Holdings takeover of Nippon Cargo, but with conditions
Dubai wants to reduce traffic congestion with the 2026 launch of Joby air taxi
Sources say that a limpet mine could have damaged a Greek tanker near Libya in the latest unaccounted for attack.