trending Market Intelligence /marketintelligence/en/news-insights/trending/6urky4w6fehvcriv0t-b5a2 content esgSubNav
In This List

Naked Brand receives noncompliance notice from Nasdaq

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Naked Brand receives noncompliance notice from Nasdaq

Naked Brand Group Inc. disclosed in a Feb. 7 SEC filing that it received a noncompliance notice from Nasdaq on Feb. 1 due to the company's failure to hold an annual meeting of stockholders within 12 months of the Jan. 31, 2017, end of its prior fiscal year.

The underwear retailer said its stockholders meeting was delayed because of its contemplated business combination with intimate apparel businesses Bendon Ltd. and Bendon Group Holdings Ltd., which would be submitted for a vote.

Under the terms of Nasdaq's listing rules, the New York-based company has 45 calendar days from Feb. 1 to submit a plan to regain compliance with the annual meeting requirement.

If Nasdaq accepts the plan, Naked Brand will be granted an extension of 180 days from the close of its fiscal year ended Jan. 31, 2017, which would give it until July 30, 2018, to regain compliance. The company will have the right to make an appeal to the Nasdaq hearings panel if the plan is rejected.

Naked Brand noted that there is no immediate effect on its listing of common stock on the Nasdaq Capital Market.