China Sunergy Announces Receipt of Notice of Failure to Meet Nasdaq Continued Listing Standards
China Sunergy Co., Ltd. a specialized solar cell and module manufacturer, recentky announced that it had received a letter from the Listing Qualifications Department of the NASDAQ Stock Market, on February 23, 2016 (the “Letter”), informing the Company that it does not comply with a Nasdaq requirement set forth in Nasdaq Listing Rules (the “Listing Rule”) 5450(a)(1) related to the maintenance of a minimum bid price of $1 requirement.
Pursuant to the Listing Rule 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days to regain compliance. If at anytime during this compliance period the closing bid price of the company’s security is at least $1 for a minimum of ten consecutive business days, it will receive a written confirmation of compliance and this matter will be closed.This announcement is being made in compliance with Listing Rule 5810(b), which requires prompt disclosure of receipt of a noncompliance letter.
