INDIA GLOBALIZATION CAPITAL, INC. (NYSEMKT:IGC) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing
IGC) received notice that NYSE MKT LLC (the Exchange) has
accepted the Companys plan to regain compliance with the
Exchange’s continued listing standards.
Company was notified by the Exchange that it was not in
compliance with Section 704 of the Company Guide. Specifically,
the Company failed to hold an annual meeting of its stockholders
for fiscal year ended March 31, 2016. On April 10, 2017, the
Company submitted a plan to the Exchange to provide for the
holding of a meeting of stockholders as promptly as practicable
after the filing of the Form 10-K for fiscal 2017 and before
October 16, 2017.
reasonable demonstration of an ability to regain compliance with
the continued listing standards and they therefore granted us an
extension to regain compliance with Section 704 by October 16,
2017. to the extension, we must continue to provide the Exchange
with updates regarding the initiatives set forth in the plan and
the Exchange will periodically review our company to determine
our progress and compliance with the plan. If the Exchange does
not believe that we are progressing as set forth in the plan or
if we do not regain compliance by October 16, 2017, it may
initiate delisting proceedings as appropriate.
Company’s common stock, which will continue to trade on the NYSE
MKT exchange under the symbol “IGC.BC” subject to periodic
review by the Exchange and to an extension during the plan
2017, regarding the notice from the NYSE is filed as Exhibit 99.1
to this Form 8-K. and is incorporated by reference into this Item
3.01 in its entirety.
Financial Statements and Exhibits
part of this current report.
April 21, 2017.
About INDIA GLOBALIZATION CAPITAL, INC. (NYSEMKT:IGC)
India Globalization Capital, Inc. develops intellectual property for the treatment of life altering or life threatening conditions, through its research on phytocannabinoid-based therapies, in the United States. The Company also builds farming facilities for leasing. In Malaysia, the Company develops and manages residential and commercial real estate. In India, it leases heavy equipment. It is also focused on developing, testing and patenting phytocannabinoid-based pharmaceutical therapies and becoming a specialty pharmaceutical provider of phytocannabinoid-based pharmaceutical and nutraceutical products. It is developing a product portfolio of phytocannabinoid-based therapies for indications, including neuropathic and cancer pain, epilepsy, end of life supportive care, adjunctive supportive therapies of chronic neurological and oncological diagnosis. In Malaysia, the Company’s subsidiary, Cabaran Ultima Sdn. Bhd., is focused on building a five-star hotel, Genting highlands. INDIA GLOBALIZATION CAPITAL, INC. (NYSEMKT:IGC) Recent Trading Information
INDIA GLOBALIZATION CAPITAL, INC. (NYSEMKT:IGC) closed its last trading session up +0.056 at 0.486 with 262,349 shares trading hands.