Nautilus Marine Acquisition Receives Letter From Nasdaq Regarding Continued Listing Requirements
Nautilus Marine Acquisition Corp. ("Nautilus") (NASDAQ: NMAR) announced that it has received a letter from The NASDAQ Stock Market ("Nasdaq"), dated January 11, 2013, which stated a determination by Nasdaq that Nautilus is not in compliance with Nasdaq's continued listing requirement to maintain a minimum of 300 public holders under Nasdaq Rule 5550(a)(3).
In its letter, Nasdaq granted Nautilus until February 15, 2013 to demonstrate compliance with all requirements for initial listing on Nasdaq following completion of its pending business combination with Assetplus Limited. Nautilus' common shares will continue to be listed on the Nasdaq Capital Market during such period.
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