Elys BMG Group, Inc.: Nasdaq/NYSE listing notice — Elys Game Technology receives Nasdaq delisting notice; plans hearing and reverse split

Elys BMG Group, Inc.

Received Nasdaq notice on July 25, 2023 for non-compliance with $1.00 minimum bid price rule after second compliance period ended July 24.
Intends to request hearing by August 1, 2023 to stay suspension; hearing expected within 45 days of request.
Plans reverse stock split at ratio of 1-for-2 to 1-for-1000 to regain compliance, subject to shareholder vote via proxy.
Common stock continues trading on Nasdaq Capital Market under symbol 'ELYS' while appeal process proceeds.
No assurance of regaining compliance or obtaining extension from Nasdaq.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Elys BMG Group, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A)

Exact text from the filing

July 25, 2023, the Company received written notice (the “Notice”) from Nasdaq stating that the Company has not complied with the Minimum Bid Price Rule. The Notice indicated that the Company’s common stock would be suspended from trading on Nasdaq unless the Company requests a hearing before a hearings panel by August 1, 2023. The Company intends to timely request a hearing, which will stay any trading suspension of the Company’s common stock until completion of the Nasdaq hearing process and expiration of any additional extension period granted by the panel following the hearing. The Company

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Source: SEC EDGAR

accession 0001017386-23-000278

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