Ballard Receives NASDAQ Notice Regarding Non-Compliance
Ballard Power Systems (NASDAQ: BLDP) today announced that it received a notice on October 5, 2012
from the NASDAQ Stock Market LLC. The notice stated that the Company
was not in compliance with NASDAQ Marketplace Rule 5450(a)(1) because
the bid price of the Company's common stock closed below the required
minimum $1.00 per share for the previous 30 consecutive business days.
The NASDAQ notice has no immediate effect on the listing of the
Company's common stock.
In accordance with NASDAQ rules, Ballard has a period of 180 calendar
days, until April 3, 2013, to regain compliance with the minimum bid
price rule. If at any time before April 3, 2013, the bid price of the
Company's common stock closes at $1.00 per share or more for a minimum
of 10 consecutive business days, NASDAQ will notify the Company that it
has regained compliance with the minimum bid price rule. The Company is
currently reviewing options with respect to regaining such compliance.
If Ballard cannot demonstrate compliance with Rule 5450(a)(1) by April
3, 2013, NASDAQ will provide notice to Ballard that its securities may
be delisted. At that time, Ballard may appeal NASDAQ's decision to