NewLead Holdings Ltd. Regains Compliance with NASDAQ Minimum Market Value of Publicly Held Shares Requirement
NewLead Holdings Ltd. (NASDAQ: NEWL) today announced that it has received notification from the NASDAQ Listing Qualifications department that it has regained compliance with the minimum Market Value of Publicly Held Shares of $5,000,000 for continued listing set forth in Listing Rule 5450(b)(1)(C) as the Company's MVPHS was $5,000,000 or more for 10 consecutive business days.
On September 16, 2011, NASDAQ notified NewLead that it was not in compliance with one of its standards for continued listing on the NASDAQ Global Select Market because the Company's MVPHS was below $5,000,000 for 30 consecutive business days. The Company had been granted a grace period of 180 calendar days in order to regain compliance.
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