Delisting Determination, The Nasdaq Stock Market, LLC, March 21, 2024,
Nemaura Medical Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the securities of Nemaura Medical Inc., effective at the
opening of the trading session on April 1, 2024.
Based on review of information provided by the Company, Nasdaq Staff
determined that the Company no longer qualified for listing on the
Exchange pursuant to Listing Rule 5550(a)(2). The Company was notified
of the Staff determination on October 3, 2023. On October 4, 2023, the
Company received an additional delist determination for its failure to
meet the requirement in Listing Rule 5550(a)(2).
On October 10, 2023, the Company exercised its right to appeal the Staff
determination to the Listing Qualifications Hearings Panel (Panel)
pursuant to Listing Rule 5815.
On December 12, 2023, upon review of the information provided by the Company,
the Panel determined to grant the Company request to remain listed in
the Exchange subject to a series of milestones.
Based on the Company failure to meet the terms of the exception, on
January 3, 2024, the Panel issued a final decision denying the Company
continued listing and notified the Company that trading in the Company
securities would be suspended on January 5, 2024.
The Company did not appeal the Panel decision to the Nasdaq Listing and
Hearing Review Council (Council) and the Council did not call the matter
for review. The Staff determination to delist the Company became final on
February 20, 2024.