ChinaNet Online Holdings Receives Nasdaq Notification of Non-Compliance With Minimum Bid Price Rule
ChinaNet Online Holdings, Inc. (Nasdaq: CNET) today announced that on May 30, 2012, it received a letter from the Nasdaq Stock Market stating that, based upon the closing bid price for the previous 30 consecutive business days, the Company no longer meets the requirement set forth in Nasdaq Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share (the "Minimum Bid Price Rule") . The Nasdaq letter has no immediate effect on the listing of the Company's ordinary shares.
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