Boston, MA 06/05/2014 (wallstreetpr) – Designer, developer and manufacturer of energy storage and power electronic systems, ZBB Energy Corporation (NYSEMKT:ZBB) has been provided more time to comply with New York Stock Exchange market regulations.
NYSE Extends Time
The company disclosed that the stock exchange has extended the compliance date to October 15 current year following its representations to NYSE. The stock exchange found realistic demonstration of the company’s ability to reclaim compliance as per Section 1003(a)(iv) of the exchange.
The stock exchange reviewed the information provided by ZBB Energy Corporation (NYSEMKT:ZBB) and the exchange has given its determination as per the Section 1009 of the Company Guide.
Earlier Notice
On October 8 last year, the company has been served with a notice finding fault with regard to non-compliance of listing requirements provided under the exchange’s Company Guide Sections 1003(a)(ii) and 1003(a)(iii) or financial state of affairs with regard to continuous requirements of listing provided under Section 1003(a)(iv).
ZBB Energy Corporation (NYSEMKT:ZBB) has been asked to submit a plan by the NYSE staff so as to allow reestablishment of compliance with regarding to the listing requirements. Accordingly, ZBB Energy Corporation submitted a plan on November 14 last year so that the exchange could allow the continued listing of the company’s shares.
The NYSE responded to the company by accepting its plan of compliance and offered time till April 15, 2015, to reclaim compliance. This apart, the exchange has also allowed the company till February 18 to reclaim compliance about the continuous listing requirements.
Fresh Notice
ZBB Energy Corporation (NYSEMKT:ZBB) has been served with another notice on February 28 by the NYSE extending the date to May 30,2014, by which it was required to comply with various sections of the exchange. The exchange has told the company that it has reviewed its Form 10-Q filed with the Securities and Exchange Commission as on February 14 last.
In the event of ZBB Energy Corporation (NYSEMKT:ZBB) failing to comply with the listing requirements, the exchange reserves the right to delist its shares.
