Asia Pacific Wire receives continued listing standards letter from Nasdaq
Asia Pacific Wire & Cable Corporation announced the company's receipt of a letter from Nasdaq's Listing Qualifications department indicating that the company is not in compliance with one of The Nasdaq Global Market's continued listings standards. Specifically, The Nasdaq Global Market requires listed securities to maintain a minimum Market Value of Publicly Held Shares of $5,000,000. The company has been informed by Nasdaq that, based upon a review of APWC's MVPHS for the last 30 consecutive business days, the company no longer meets this requirement. Nasdaq rules provide the company with a 180 calendar day period in which to regain compliance with this listing standard; otherwise, the company will receive written notification that its securities are subject to delisting. Alternatively, APWC may consider transferring its listing to The Nasdaq Capital Market, where the company would have to meet the Capital Market's continued listing requirements. While the company has not made a final decision yet on its course of action, APWC wishes to assure its investors and other constituencies that it plans to take all necessary and reasonable steps to maintain a listing on the Nasdaq stock exchange.