ZK International Group Co., Ltd. Granted Temporary Exception By Nasdaq Hearings Panel
ZK International Group Co., Ltd. Granted Temporary Exception By Nasdaq Hearings Panel
ZK International Group Co., Ltd. (NASDAQ:ZKIN) ("ZKIN", "ZK International" or the "Company"), is pleased to announce that the Nasdaq Hearings Panel has granted the company a temporary exception, enabling it to regain compliance with The Nasdaq Stock Market LLC's ("Nasdaq") Listing Rule 5550(a)(2) (the "Bid Price Rule").
ZK国际集团有限公司（纳斯达克股票代码：ZKIN）（“ZKIN”、“ZK国际” 或 “公司”）欣然宣布，纳斯达克听证会小组已批准该公司临时例外，使其能够重新遵守纳斯达克股票市场有限责任公司（“纳斯达克”）的上市规则5550（a）（2）（“买入价规则”）。
ZK International Group Co., Ltd. has represented to Nasdaq a comprehensive plan to restore compliance with the Bid Price Rule. The company will effect a reverse stock split, if necessary, to regain compliance by January 19, 2024 and described the actions it intends to take to be able to meet that timeline. The temporary exception extends until January 31, 2024, giving ZK International Group Co., Ltd. a clear timeline to meet these compliance milestones. ZK International Group Co., Ltd. shall effect a reverse stock split by January 5, 2024 and shall have demonstrated compliance with the Bid Price Rule, by evidencing a closing bid price of $1 or more per share for a minimum of ten consecutive trading sessions, by January 19, 2024.
ZK国际集团有限公司已向纳斯达克提交了一项全面计划，以恢复对投标价格规则的遵守。如有必要，该公司将在2024年1月19日之前进行反向股票拆分，以恢复合规，并描述了为遵守该时间表而打算采取的行动。临时例外延长至2024年1月31日，为ZK国际集团有限公司提供了实现这些合规里程碑的明确时间表。ZK International Group Co., Ltd.应在2024年1月5日之前进行反向股票拆分，并应证明在2024年1月19日之前至少连续十个交易日的收盘价为每股1美元或以上，从而证明遵守了买入价规则。
"We are appreciative of the Nasdaq Hearings Panel's decision to grant us this temporary exception," said Jiancong Huang, Chairman of ZK International Group Co., Ltd, "this decision provides us with a clear path to regain compliance with the Bid Price Rule and reaffirms our commitment to our shareholders, business partners, and the investment community."
中科国际集团有限公司董事长黄健聪说：“我们对纳斯达克听证会小组决定批准我们这一临时例外情况表示赞赏，这一决定为我们提供了重新遵守投标价格规则的明确途径，并重申了我们对股东、商业伙伴和投资界的承诺。”
The Nasdaq Hearings Panel advised ZK International Group Co., Ltd. that during the exception period, the company must promptly notify Nasdaq of any significant events that could impact its compliance with Nasdaq listing requirements. Failure to meet any of the terms outlined in this exception may result in the delisting of the company's securities from the Exchange.
纳斯达克听证会小组告知ZK International Group Co., Ltd.，Ltd.，在例外期间，公司必须立即将任何可能影响其遵守纳斯达克上市要求的重大事件通知纳斯达克。未能满足本例外条款中概述的任何条款可能导致该公司的证券从联交所退市。
ZK International Group Co., Ltd. is dedicated to maintaining transparency and meeting all regulatory requirements during this process. The company will work diligently to fulfill the conditions outlined by Nasdaq and, if necessary, request a review by the Nasdaq Listing and Hearing Review Council. ZK International Group Co., Ltd. is committed to the continued success and growth of the business and values its relationship with its stakeholders.
ZK国际集团有限公司致力于在此过程中保持透明度并满足所有监管要求。该公司将努力满足纳斯达克概述的条件，并在必要时要求纳斯达克上市和听证会审查委员会进行审查。ZK International Group Co., Ltd. 致力于业务的持续成功和发展，并重视与利益相关者的关系。