Tingo Group, Inc.: Nasdaq/NYSE listing notice — Tingo Group receives Nasdaq deficiency notice for audit committee non-compliance

Tingo Group, Inc.

Nasdaq notified Tingo Group on Jan 12, 2024, that it fails to meet audit committee composition rules due to director Jamal Khurshid's resignation on Dec 20, 2023.
Cure period runs until the earlier of next annual shareholders' meeting or Dec 20, 2024; if meeting before June 17, 2024, compliance must be shown by June 17, 2024.
Company plans to appoint a third independent director to the audit committee within the cure period to regain compliance.
Non-compliance indicator will be broadcast; company will be added to Nasdaq's non-compliant list in five business days.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Tingo Group, Inc. received a nasdaq deficiency notice notice regarding audit committee (rules 5605, 5605(c)(4)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: audit committee
Rules: 5605, 5605(c)(4)

Exact text from the filing

January 12, 2024, the Company was notified (the “Notification Letter”) by the Nasdaq Listing Qualifications (“Nasdaq”) that it is not in compliance with the Nasdaq’s audit committee requirements as set forth in Listing Rule 5605, which stipulates that an audit committee must have at least three members, each of whom must be an independent director. The non-compliance has arisen due to the resignation of Mr. Jamal Khurshid from the Company’s Board of Directors and audit committee on December 20, 2023. The Notification Letter, consistent with Listing Rule 5605(c)(4), states that Nasdaq will prov

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Source: SEC EDGAR

accession 0001213900-24-004017

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