TransGlobe Energy Corporation Receives Nasdaq Letter Regarding Non-Compliance With Minimum Bid Price Requirement
TransGlobe Energy Corporation - Common Shares (TGA)
Last transglobe energy corporation - common shares earnings: 11/9 02:01 am
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Source: GlobeNewswire
CALGARY, Alberta, April 23, 2020 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (AIM & TSX: “TGL” & NASDAQ: “TGA”) was notified on April 20, 2020 by the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) that the closing bid price of the Company’s common stock for the last 30 consecutive business days from March 6, 2020 to April 17, 2020 did not meet the minimum bid price of $1.00 per share as set forth in Nasdaq Listing Rule 5450(a)(1) required for continued listing on Nasdaq (the “Minimum Bid Requirement”). Pursuant to the Nasdaq Listing Rules, the Company has been provided with a compliance period of 180 calendar days from the date of notification in which to regain compliance with the Minimum Bid Requirement. Additionally, due to the ongoing volatility in the world financial markets, Nasdaq has determined to toll the compliance period for the Minimum Bid Requirement through June 30, 2020, and as a result, the Company has
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