$Selina Hospitality (SLNA.US)$ NEW YORK, April 22, 2024 (GLO...
$Selina Hospitality (SLNA.US)$ NEW YORK, April 22, 2024 (GLOBE NEWSWIRE) -- Selina Hospitality PLC ("Company"; NASDAQ: SLNA), a global lifestyle and experiential hospitality company catering to millennial and Gen Z travelers, today announced that on April 17, 2024, the Company received a staff determination letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company of the staff’s intention to commence the process to delist the Company’s securities because the Company’s securities have had a closing bid price below $0.10 for ten consecutive trading days, which triggers a notice of delisting pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”).
In addition to the Letter, as previously disclosed, the Company has been on notice since September 8, 2023, that the closing bid price of its securities had fallen below $1.00 for 30 consecutive business days in violation of Nasdaq Listing Rule 5810(c)(3)(A) (the “Minimum Bid Price Rule”) and since such date the Company has not regained compliance. On March 7, 2024, following the transfer of the Company’s securities to the Nasdaq Capital Market, the Company was granted an additional 180 calendar day period, or until September 3, 2024, to regain compliance with the Minimum Bid Price Rule. If the Company’s securities fail to regain compliance with the Minimum Bid Price Rule before such date, Nasdaq will have an additional basis for delisting the Company’s securities.
The Company currently plans to appeal the staff’s determination to a Hearings Panel (the “Panel”). A hearing request will stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the Panel’s decision. This hearing has yet to be scheduled, but once the Company’s request for a hearing has been submitted to Nasdaq, the hearing is expected to be held within the next 45 days.
The Company intends to monitor the closing bid price of its common stock and may consider implementing available options to regain compliance with the Minimum Bid Price Rule for continued listing on the Nasdaq Capital Market, if needed. Achieving compliance likely would involve the implementation of the 1:30 reverse stock split that was approved by shareholders at the Company’s general shareholder meeting on March 26, 2024. The Company has issued today a Report on Form 6-K providing more detail on the delisting notice.
About Selina Hospitality PLC
Selina Hospitality PLC (NASDAQ: SLNA) is a global hospitality brand built to address the needs of millennial and Gen Z travelers, blending beautifully designed accommodation with coworking, recreation, wellness, and local experiences. Founded in 2014 and custom-built for today’s nomadic traveler, Selina provides guests with a global infrastructure to seamlessly travel and work abroad. Each Selina property is designed in partnership with local artists, creators, and tastemakers, breathing new life into existing buildings in interesting locations in 24 countries on six continents – from urban cities to remote beaches and jungles. To learn more, visit Selina.com or follow Selina on X, Instagram, Facebook, Linkedin or YouTube.
NEW YORK, April 22, 2024 (GLOBE NEWSWIRE) -- Selina Hospitality PLC ("Company"; NASDAQ: SLNA), a global lifestyle and experiential hospitality company catering to millennial and Gen Z travelers, today announced that on April 17, 2024, the Company received a staff determination letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company of the staff’s intention to commence the process to delist the Company’s securities because the Company’s securities have had a closing bid price below $0.10 for ten consecutive trading days, which triggers a notice of delisting pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”).
In addition to the Letter, as previously disclosed, the Company has been on notice since September 8, 2023, that the closing bid price of its securities had fallen below $1.00 for 30 consecutive business days in violation of Nasdaq Listing Rule 5810(c)(3)(A) (the “Minimum Bid Price Rule”) and since such date the Company has not regained compliance. On March 7, 2024, following the transfer of the Company’s securities to the Nasdaq Capital Market, the Company was granted an additional 180 calendar day period, or until September 3, 2024, to regain compliance with the Minimum Bid Price Rule. If the Company’s securities fail to regain compliance with the Minimum Bid Price Rule before such date, Nasdaq will have an additional basis for delisting the Company’s securities.
The Company currently plans to appeal the staff’s determination to a Hearings Panel (the “Panel”). A hearing request will stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the Panel’s decision. This hearing has yet to be scheduled, but once the Company’s request for a hearing has been submitted to Nasdaq, the hearing is expected to be held within the next 45 days.
The Company intends to monitor the closing bid price of its common stock and may consider implementing available options to regain compliance with the Minimum Bid Price Rule for continued listing on the Nasdaq Capital Market, if needed. Achieving compliance likely would involve the implementation of the 1:30 reverse stock split that was approved by shareholders at the Company’s general shareholder meeting on March 26, 2024. The Company has issued today a Report on Form 6-K providing more detail on the delisting notice.
About Selina Hospitality PLC
Selina Hospitality PLC (NASDAQ: SLNA) is a global hospitality brand built to address the needs of millennial and Gen Z travelers, blending beautifully designed accommodation with coworking, recreation, wellness, and local experiences. Founded in 2014 and custom-built for today’s nomadic traveler, Selina provides guests with a global infrastructure to seamlessly travel and work abroad. Each Selina property is designed in partnership with local artists, creators, and tastemakers, breathing new life into existing buildings in interesting locations in 24 countries on six continents – from urban cities to remote beaches and jungles. To learn more, visit Selina.com or follow Selina on X, Instagram, Facebook, Linkedin or YouTube.
In addition to the Letter, as previously disclosed, the Company has been on notice since September 8, 2023, that the closing bid price of its securities had fallen below $1.00 for 30 consecutive business days in violation of Nasdaq Listing Rule 5810(c)(3)(A) (the “Minimum Bid Price Rule”) and since such date the Company has not regained compliance. On March 7, 2024, following the transfer of the Company’s securities to the Nasdaq Capital Market, the Company was granted an additional 180 calendar day period, or until September 3, 2024, to regain compliance with the Minimum Bid Price Rule. If the Company’s securities fail to regain compliance with the Minimum Bid Price Rule before such date, Nasdaq will have an additional basis for delisting the Company’s securities.
The Company currently plans to appeal the staff’s determination to a Hearings Panel (the “Panel”). A hearing request will stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the Panel’s decision. This hearing has yet to be scheduled, but once the Company’s request for a hearing has been submitted to Nasdaq, the hearing is expected to be held within the next 45 days.
The Company intends to monitor the closing bid price of its common stock and may consider implementing available options to regain compliance with the Minimum Bid Price Rule for continued listing on the Nasdaq Capital Market, if needed. Achieving compliance likely would involve the implementation of the 1:30 reverse stock split that was approved by shareholders at the Company’s general shareholder meeting on March 26, 2024. The Company has issued today a Report on Form 6-K providing more detail on the delisting notice.
About Selina Hospitality PLC
Selina Hospitality PLC (NASDAQ: SLNA) is a global hospitality brand built to address the needs of millennial and Gen Z travelers, blending beautifully designed accommodation with coworking, recreation, wellness, and local experiences. Founded in 2014 and custom-built for today’s nomadic traveler, Selina provides guests with a global infrastructure to seamlessly travel and work abroad. Each Selina property is designed in partnership with local artists, creators, and tastemakers, breathing new life into existing buildings in interesting locations in 24 countries on six continents – from urban cities to remote beaches and jungles. To learn more, visit Selina.com or follow Selina on X, Instagram, Facebook, Linkedin or YouTube.
NEW YORK, April 22, 2024 (GLOBE NEWSWIRE) -- Selina Hospitality PLC ("Company"; NASDAQ: SLNA), a global lifestyle and experiential hospitality company catering to millennial and Gen Z travelers, today announced that on April 17, 2024, the Company received a staff determination letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company of the staff’s intention to commence the process to delist the Company’s securities because the Company’s securities have had a closing bid price below $0.10 for ten consecutive trading days, which triggers a notice of delisting pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”).
In addition to the Letter, as previously disclosed, the Company has been on notice since September 8, 2023, that the closing bid price of its securities had fallen below $1.00 for 30 consecutive business days in violation of Nasdaq Listing Rule 5810(c)(3)(A) (the “Minimum Bid Price Rule”) and since such date the Company has not regained compliance. On March 7, 2024, following the transfer of the Company’s securities to the Nasdaq Capital Market, the Company was granted an additional 180 calendar day period, or until September 3, 2024, to regain compliance with the Minimum Bid Price Rule. If the Company’s securities fail to regain compliance with the Minimum Bid Price Rule before such date, Nasdaq will have an additional basis for delisting the Company’s securities.
The Company currently plans to appeal the staff’s determination to a Hearings Panel (the “Panel”). A hearing request will stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the Panel’s decision. This hearing has yet to be scheduled, but once the Company’s request for a hearing has been submitted to Nasdaq, the hearing is expected to be held within the next 45 days.
The Company intends to monitor the closing bid price of its common stock and may consider implementing available options to regain compliance with the Minimum Bid Price Rule for continued listing on the Nasdaq Capital Market, if needed. Achieving compliance likely would involve the implementation of the 1:30 reverse stock split that was approved by shareholders at the Company’s general shareholder meeting on March 26, 2024. The Company has issued today a Report on Form 6-K providing more detail on the delisting notice.
About Selina Hospitality PLC
Selina Hospitality PLC (NASDAQ: SLNA) is a global hospitality brand built to address the needs of millennial and Gen Z travelers, blending beautifully designed accommodation with coworking, recreation, wellness, and local experiences. Founded in 2014 and custom-built for today’s nomadic traveler, Selina provides guests with a global infrastructure to seamlessly travel and work abroad. Each Selina property is designed in partnership with local artists, creators, and tastemakers, breathing new life into existing buildings in interesting locations in 24 countries on six continents – from urban cities to remote beaches and jungles. To learn more, visit Selina.com or follow Selina on X, Instagram, Facebook, Linkedin or YouTube.
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Newbee4 : Thanks
Rich365 OP : your welcome and again there cold be a newer post but even if it did delist today some of these ppl will get on here trying to scare the average investor because they are no good snakes in the grass and they bet against the stock but even if it delisted it would most likely go to otc in which case no you wouldn't be able to buy any shares from this broker but it would still allow you to sell them,so its not like u would just lose whatever you have.and lieing to deceive someone else just to get them to give up their shares and lose money is just another form of stealing even if its not direct.and I believe tIat whatever comes around goes around and shame on the person who does that to ppl.but that tells you what kind of person they truly are.
AlsuwaidiSuhail : But why he is coming up
103629603 AlsuwaidiSuhail : cuz our target is to make it continue listed in the market
AlsuwaidiSuhail 103629603 : Ok I well help