Trinity Biotech Receives Non-Compliance Notice Regarding Nasdaq Global Select Requirement for Minimum Market Value of Publicly Held Shares and Nasdaq Minimum Bid Price Requirement

Core Viewpoint - Trinity Biotech plc has received notices from Nasdaq regarding non-compliance with minimum bid price and market value requirements, which could affect its listing status if not addressed within the specified grace periods [1][2][3]. Compliance Issues - The company is not in compliance with Nasdaq Listing Rule 5450(a)(1), which requires a minimum bid price of US $1.00 per share, based on the closing bid price of its American depositary shares (ADSs) for the last 30 consecutive business days [1]. - Additionally, Trinity Biotech does not meet the requirement of Nasdaq Listing Rule 5450(b) for a minimum market value of publicly held shares (MVPHS) of US$15,000,000, also based on the last 30 consecutive business days [1]. Grace Periods - Trinity Biotech has a 180-calendar day period, until September 10, 2025, to regain compliance with the minimum bid price requirement by maintaining a closing bid price of at least US $1.00 for ten consecutive business days [2]. - The same 180-day period applies for regaining compliance with the MVPHS requirement, which must exceed US$15,000,000 for a minimum of 10 consecutive business days [3]. Potential Outcomes - If compliance is not regained within the grace periods, the company may apply for a transfer to The Nasdaq Capital Market if it meets other listing requirements, or face delisting [3]. - The company can appeal any delisting determination to a hearings panel, although there is no guarantee of a successful appeal [3]. Management's Response - Trinity Biotech's management plans to actively monitor the bid price and MVPHS, with intentions to cure the deficiencies within the grace periods [4]. - The company is evaluating various options to regain compliance and maintain its listing status, while its business operations remain unaffected by these notices [4]. Company Overview - Trinity Biotech is a commercial-stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors [7]. - The company develops, manufactures, and markets diagnostic systems for point-of-care and clinical laboratory segments, and has recently entered the wearable biosensor market through the acquisition of Waveform Technologies Inc. [7].