Trinity Biotech plc announced on March 14, 2025, that it received notice from the Nasdaq Stock Market LLC for non-compliance with two listing rules. The company's American Depositary Shares (ADSs) had a closing bid price below the US $1.00 minimum bid price requirement for 30 consecutive business days. Additionally, the company no longer met the requirement for a minimum market value of publicly held shares (MVPHS) of US $15,000,000 for 30 consecutive business days.
These notices do not have an immediate effect on the listing of the company’s ADSs, which will continue to trade on the Nasdaq Global Select Market. Trinity Biotech has a period of 180 calendar days, until September 10, 2025, to regain compliance with both the minimum bid price and MVPHS requirements. To regain compliance, the closing bid price must be at or above $1.00 for at least ten consecutive business days, and the MVPHS must exceed $15,000,000 for a minimum of ten consecutive business days.
The company's management intends to actively monitor the bid price and MVPHS for its ADSs and plans to cure the deficiencies within the prescribed grace period. While the company's business operations are not affected by these notices, failure to regain compliance could lead to delisting, though the company may be eligible for an additional grace period or transfer to The Nasdaq Capital Market.
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