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Ferroglobe announces listing transfer to the NASDAQ Capital Market
LONDON, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ: GSM) (“Ferroglobe” or “the Company”), a leading producer of silicon metal, silicon alloys
About this update from Ferroglobe Plc
[{"type":"text","content":"LONDON, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ: GSM) (“Ferroglobe” or “the Company”), a leading producer of silicon metal, silicon alloys and manganese-based specialty alloys, has received approval from the NASDAQ Stock Market LLC (“NASDAQ”) of the Company’s request to transfer listing of its ordinary shares to the NASDAQ Capital Market from the NASDAQ Global Select Market.\n As previously disclosed, NASDAQ notified Ferroglobe in November 2019 that the Company was out of compliance with the minimum bid price requirement of NASDAQ listing rule 5550(a)(2), as the closing bid price for its shares had remained below $1.00 for more than thirty consecutive days. On transfer to the NASDAQ Capital Market, Ferroglobe receives an additional 180-day grace period, effective August 4, 2020, within which to regain compliance with the minimum closing bid price requirement for continued listing. The Company has given written assurance to NASDAQ that it intends to do so, if necessary, by means of a reverse stock split. The transfer is expected to take effect on at the start of trading on August 4, 2020. The Company’s shares will continue to trade under the symbol “GSM”. The NASDAQ Capital Market is a continuous trading market that operates in substantially the same manner as the NASDAQ Global Select Market, and listed companies must meet certain financial and corporate governance requirements to qualify for continued listing. About Ferroglobe Ferroglobe is one of the world’s leading suppliers of silicon metal, silicon- and manganese-based specialty alloys and ferroalloys serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. The Company is based in London. For more information, visit http://investor.ferroglobe.com. Forward-Looking Statements This release contains “forward-looking statements” within the meaning of U.S. securities laws. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe the Company’s future plans, strategies and expectations. Forward-looking statements often use forward-looking terminology, including words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “forecast”, “guidance”, “intends”, “likely”, “may”, “plan”, “potential”, “predicts”, ...