Trinity Biotech Receives Non-Compliance Notice Regarding Nasdaq Minimum Bid Price Requirement
12 9월 2023 - 5:50AM
Trinity Biotech plc (Nasdaq: TRIB) (the “Company”), a leading
developer and manufacturer of diagnostic solutions for the
point-of-care and clinical laboratory markets, today announced that
on September 8, 2023 the Company received notice (the “Notice”)
from the Nasdaq Stock Market LLC (“Nasdaq”) that the Company is not
in compliance with Nasdaq Listing Rule 555(a)(2), as the minimum
bid price of the Company’s American depositary shares (“ADSs”) has
been below US $1.00 per share for 30 consecutive business days. The
Notice has no immediate effect on the listing of the Company’s
ADSs, which will continue to trade at this time on the Nasdaq
Capital Market under the symbol “TRIB.”
In accordance with Nasdaq Listing Rule
5810(c)(3)(A), Trinity has a period of 180 calendar days, or until
March 6, 2024 to regain compliance with the minimum bid price
requirement. To regain compliance, the closing bid price of the
Company’s ADSs must meet or exceed US $1.00 for at least ten
consecutive business days during this 180-calendar day period. In
the event Trinity does not regain compliance by March 6, 2024, the
Company may be eligible for an additional 180 calendar day grace
period if it meets the continued listing requirement for market
value of publicly held shares (US $1 million) and all other initial
listing standards for The Nasdaq Capital Market, with the exception
of the bid price and provides written notice to Nasdaq of its
intention to cure the deficiency during the second compliance
period.
Trinity’s management intends to actively monitor
the bid price for its ADSs and will consider all available options
to regain compliance with the Nasdaq minimum bid price
requirement.
About Trinity Biotech
Trinity Biotech develops, acquires, manufactures
and markets diagnostic systems, including both reagents and
instrumentation, for the point-of-care and clinical laboratory
segments of the diagnostic market. The products are used to detect
infectious diseases and to quantify the level of Haemoglobin A1c
and other chemistry parameters in serum, plasma and whole blood.
Trinity Biotech sells direct in the United States, Germany, France
and the U.K. and through a network of international distributors
and strategic partners in over 75 countries worldwide. For further
information, please see the Company's website:
www.trinitybiotech.com
Forward-Looking Statements
Certain statements made in this release that are
not historical are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. The words
“estimate”, “project”, “intend”, “expect”, “believe” and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements involve known and unknown risks
and uncertainties. Many factors could cause the actual results,
performance or achievements of Trinity Biotech to be materially
different from any future results, performance or achievements that
may be expressed or implied by such forward-looking statements,
including, but not limited to, the results of research and
development efforts, risks associated with the outbreak and global
spread of the coronavirus (COVID-19), the effect of regulation by
the U.S. Food and Drug Administration and other agencies, the
impact of competitive products, product development
commercialization and technological difficulties. For additional
information regarding these and other risks and uncertainties
associated with Trinity Biotech’s business, reference is made to
our reports filed from time to time with the U.S. Securities and
Exchange Commission. We undertake no obligation to update or revise
any forward-looking statements for any reason.
Contact: |
Trinity Biotech plc |
Lytham
Partners, LLC |
|
John Gillard |
Joe Diaz |
|
(353)-1-2769800 |
(1)-602-889-9700 |
|
|
E-mail investorrelations@trinitybiotech.com |
Trinity Biotech (NASDAQ:TRIB)
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Trinity Biotech (NASDAQ:TRIB)
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