Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Star Bulk in breach of minimum stock price on Nasdaq

Star Bulk in breach of minimum stock price on Nasdaq
As dry bulk shares continue to take a hammering Star Bulk Carriers has found itself in breach of the minimum stock price on Nasdaq.

Star Bulk has received notice from Nasdaq that its shares had traded at below the $1.00 minimum bid price for 30 consecutive business days. A failure to rectify the breach could result in the eventual delisting of Star Bulk from the exchange.

Star Bulk has 180 days in which it needs to regain compliance with the minimum price with a requirement that it trades at above $1.00 per share for 10 consecutive days. Even if the company fails to do this it may be able to get an additional grace period.

“The company intends to monitor the closing bid price of its common stock between now and 5 July 2016 and is considering all options that will allow its common shares to remain listed on the Nasdaq,” Star Bulk said.