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China Lending in breach of Nasdaq listing rules

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China Lending in breach of Nasdaq listing rules

China Lending Corp. received a noncompliance warning from Nasdaq for failing to hold an annual shareholders' meeting.

Nasdaq said the company did not hold its annual general meeting within twelve months of the company's fiscal year ended Dec. 31, 2017, according to a Jan. 8 release.

Nasdaq listing rules requires listed companies to hold an annual shareholder meeting no later than one year after the end of its fiscal year. China Lending has until Feb. 19 to submit a plan to Nasdaq to regain compliance. Once Nasdaq accepts the plan, Nasdaq may give the company until July 2 to regain compliance.