Trinity Biotech receives non-compliance notice from Nasdaq

Trinity Biotech announced that on April 19, 2023 the company received notice from the Nasdaq Stock Market LLC that the company is not in compliance with Nasdaq Listing Rule 555(a)(2), as the minimum bid price of the company’s American depositary shares has been below $1.00 per share for 30 consecutive business days. The Notice has no immediate effect on the listing of the company’s ADSs, which will continue to trade at this time on the Nasdaq Capital Market under the symbol "TRIB." In accordance with Nasdaq Listing Rule 5810(c)(3)(A), Trinity has a period of 180 calendar days, or until October 16, 2023 to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the company’s ADSs must meet or exceed $1.00 for at least ten consecutive business days during this 180-calendar day period. In the event Trinity does not regain compliance by October 16, 2023, the company may be eligible for an additional 180 calendar day grace period if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price and provides written notice to Nasdaq of its intention to cure the deficiency during the second compliance period.