PACE HOLDINGS CORP. (NASDAQ:PACE) 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 of Listing
On January 5, 2017, Pace Holdings Corp., a Cayman Islands corporation (the “Company”), received a letter from the staff of the Listing Qualifications Department of The Nasdaq Stock Market (“NASDAQ”) notifying the Company that the Company no longer complies with NASDAQ Listing Rule 5620(a) for continued listing due to its failure to hold an annual meeting of stockholders within twelve months of the end of the Company’s fiscal year ended December 31, 2015. The Company has 45 calendar days from January 5, 2017 to submit a plan to regain compliance.
As previously disclosed, in light of the Company’s announcement of its proposed business combination with Playa Hotels & Resorts B.V. in December 2016, and the limited availability of shareholders at the end of the year, the Company determined to defer compliance with the annual meeting requirement until 2017 when management would be able to communicate more effectively with shareholders regarding the proposed business combination. The Company intends to submit a plan to NASDAQ promptly and to regain compliance with the listing rules within the time frame allotted by NASDAQ.
If NASDAQ accepts the Company’s plan, NASDAQ may grant an exception of up to 180 calendar days from the fiscal year end, or until June 29, 2017, to regain compliance.
Item 8.01 Other Events
The information contained in Item 3.01 of this Current Report on Form 8-K is incorporated by reference herein.
PACE HOLDINGS CORP. (NASDAQ:PACE) Recent Trading Information
PACE HOLDINGS CORP. (NASDAQ:PACE) closed its last trading session at with 471,285 shares trading hands.