|
|
|
Exhibit 99.1
FOR IMMEDIATE RELEASE
|
|
For further information contact:
|
|
|
Amanda Chang
Investor Relations Department
Country/City Code 8862 Tel: 2656-8080
amanda.chang@gigamedia.com.tw |
GigaMedia Announces Additional Grace Period for Listing on Nasdaq
TAIPEI, Taiwan, July 10, 2015 GigaMedia Limited (NASDAQ: GIGM), an online games and computing
services provider, today announced that it received a positive determination from the Nasdaq Stock
Market on July 9, 2015 granting approval of the Companys request to an additional 180-day grace
period. The Companys securities will continue to trade on Nasdaq Capital Market effective on
Tuesday, July 14, 2015 under the symbol GIGM.
As previously reported, GigaMedia was notified by Nasdaq on January 14, 2015, that it no longer
satisfied the minimum bid price requirement for continued listing of $1.00 per share, as set forth
in Nasdaq Listing Rule 5450(a)(1). The Company is being afforded an additional 180-day grace
period to regain compliance with the Nasdaqs minimum bid price requirement upon transfer to the
Capital Market. In order to regain compliance, the minimum bid price per share of the Companys
common stock must be at least $1.00 for at least ten consecutive business days during the
additional 180-day grace period, which will end on January 11, 2016. If the Company fails to regain
compliance during this second grace period, the Companys common stock will be subject to delisting
by Nasdaq. The Company has provided written notice of its intention to cure the minimum bid price
deficiency during the second grace period by effecting a reverse stock split if necessary.
About GigaMedia
Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a
diversified provider of online games and cloud computing services. GigaMedias online games
business is an innovative leader in Asia with growing game development, distribution and operation
capabilities, as well as platform services for games; focus is on mobile games and social casino
games. The companys cloud computing business is focused on providing enterprises in Greater China
with critical communications services and IT solutions that increase flexibility, efficiency and
competitiveness. More information on GigaMedia can be obtained from www.gigamedia.com.
The statements included above and elsewhere in this press release that are not historical in nature
are forward-looking statements within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. GigaMedia cautions readers that forward-looking
statements are based on the companys current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from those contained in such forward-looking
statements. Information as to certain factors that could cause actual results to vary can be found
in GigaMedias Annual Report on Form 20-F filed with the United States Securities and Exchange
Commission in April 2015.
GigaMedia (NASDAQ:GIGM)
Historical Stock Chart
From Apr 2024 to May 2024
GigaMedia (NASDAQ:GIGM)
Historical Stock Chart
From May 2023 to May 2024