China HGS Real Estate (HGSH) Regains Nasdaq Listing Compliance

November 23, 2012 9:32 AM EST Send to a Friend
China HGS Real Estate Inc. (Nasdaq: HGSH) announced that the Company has received a letter dated November 20, 2012 from The NASDAQ Stock Market LLC ("NASDAQ") notifying the Company that it has regained compliance with the minimum bid price of $1.00 per share requirement for continued listing set forth in NASDAQ Listing Rule 5450(a)(1), as its common stock has achieved a closing bid price of $1.00 or more for 14 consecutive business days from October 31, 2012 to November 19, 2012.

On January 18, 2012, NASDAQ notified the Company that the Company's common stock did not maintain a minimum closing bid price of $1.00 per share ("Minimum Bid Price Requirement") for 30 consecutive business days as required by NASDAQ Listing Rule 5550(a)(2). The Company was provided 180 calendar days to regain compliance. In a letter dated July 18, 2012, the NASDAQ notified the Company that it is eligible for an additional 180-day period, or until January 14, 2013, to regain compliance with the Minimum Bid Price Requirement. In connection with the grant of the additional 180-day period, the listing of the Company's common stock was transferred at the Company's request to the NASDAQ Capital Market under the existing ticker symbol (HGSH) at the opening of business on July 20, 2012.


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