Nemaura Medical provides update on Nasdaq compliance status, process

Nemaura Medical provided an update regarding the status of its compliance with Nasdaq continued listed standards and anticipated next steps to maintain its listing on The Nasdaq Capital Market. The Company currently does not expect to regain compliance with the above-referenced Nasdaq listing criteria prior to the expiration of the applicable grace periods and, as such, anticipates receipt of a delisting determination from the Staff promptly following the expiration of the grace periods. Importantly, however, upon receipt of such determination, the Company may request a hearing before a Nasdaq Hearings Panel to address the listing deficiencies, which request will stay any suspension or delisting action by Nasdaq at least until a hearing is held and any extension that may be granted by the Panel to the Company following the hearing has expired. In that regard, pursuant to the Nasdaq Listing Rules, the Panel has the discretion to grant the Company an additional extension period not to exceed 180 calendar days from the date of the forthcoming delist determination. The Company plans to timely request such hearing and is considering all options available to it to regain compliance and maintain its listing on The Nasdaq Capital Market.