The listing qualifications department of Nasdaq on Sept. 26 informed Internet Gold - Golden Lines Ltd. about its noncompliance with a certain listing rule.
The rule requires companies on the Nasdaq Global Select Market to maintain a minimum of $10 million in stockholders' equity for continued listing, according to a Sept. 30 news release.
The Israeli telecom company has a 45-day period, until Nov. 11, to submit a plan to regain compliance. If the plan is accepted, the company may be granted an extension of up to 180 calendar days to regain compliance with this rule.
Earlier this month, Internet Gold was notified by Nasdaq that it regained compliance with the requirement to maintain a minimum bid price of $1 per share. In August, the company was notified regarding its noncompliance with a rule that requires companies on the Nasdaq Global Select Market to maintain a minimum of 750,000 publicly held shares.
