Benzinga | Apr 29, 2021 04:25PM EDT

Naked Brand Group Limited Receives NASDAQ Notice of Minimum Bid Price Non-Compliance

Naked Brand Group Limited (NASDAQ:NAKD) ("Naked" or the "Company"), a global leader in intimate apparel, has received a letter from the Listing Qualifications Department of The Nasdaq Capital Market ("Nasdaq") notifying the company that the minimum bid price for the Company's ordinary shares was below $1.00 per share for a period of 30 consecutive business days, and that the company therefore did not meet the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2).

The Nasdaq notification has no effect at this time on the listing of the Company's ordinary shares, and the shares will continue to trade uninterrupted under the symbol "NAKD". Naked management intends to actively monitor the bid price for its ordinary shares and will consider all available options to regain compliance with the Nasdaq minimum bid price requirement.

The Company has a compliance period of 180 calendar days (until October 25, 2021) to regain compliance with the minimum bid price requirement. If at any time during the 180-day compliance period, the closing bid price per share of the Company's ordinary shares is at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.