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China Liberal Education Holdings Limited ("China Liberal" or the "Company") (NASDAQ:CLEU), a China-based company that provides smart campus solutions and other educational services, today announced that the Company received a written notification (the "Notification Letter") from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") on February 2, 2024, informing the Company that it has regained compliance with the Nasdaq's minimum bid price requirement and the matter is closed.
On September 26, 2023, the Company was notified by Nasdaq of its failure to maintain a minimum bid price of $1.00 per share for 30 consecutive business days under Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A), and was provided 180 calendar days, or until March 25, 2024, to regain compliance. Effective January 19, 2024, the Company effected a share consolidation of fifteen (15) ordinary shares with par value of $0.001 per share each in the Company's issued and unissued share capital into one (1) ordinary share with par value of US$0.015, which was reflected with Nasdaq and in the marketplace at the opening of business on January 19, 2024.
The Notification Letter the Company received from Nasdaq on February 2, 2024 noted that the Company evidenced a closing bid price of its ordinary shares at or greater than the $1.00 per share minimum requirement for the last 10 consecutive business days, from January 19, 2024 to February 1, 2024. Nasdaq stated that, accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2).
Posted In: CLEU
