JM GLOBAL HOLDING COMPANY (NASDAQ:WYIG) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01.Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer ofListing.
On August 14, 2017, JM Global Holding Company (the “Company”) received written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The NASDAQ Stock Market LLC (“Nasdaq”) indicating that, based upon the Company’s non-compliance with Nasdaq Listing Rule 5550(a)(3), which requires an issuer to report a minimum of 300 public holders of its common stock (the “Minimum Holders Rule”), the Company would be required to submit a plan to regain compliance with the Minimum Holders Rule for the Staff’s consideration by no later than September 28, 2017.
The Company intends to timely submit a compliance plan for the Staff’s review. If the Staff accepts the plan, the Staff may grant the Company an extension of up to 180 calendar days from the date of the Notice, or through February 12, 2018, to evidence compliance with the Minimum Holders Rule. If the Staff does not accept the Company’s plan, the Company would be entitled to request a hearing, at which hearing it would present its plan to a Nasdaq Hearings Panel and request the continued listing of its securities on Nasdaq to and pending the completion of such plan. During the pendency of the hearing process, the Company’s securities would continue to be listed on Nasdaq.