Brooge Energy announced that it has received a letter from The Nasdaq Stock Market dated May 23 stating that the Company is not in compliance with Listing Rule 5250c 1 .The company is not in compliance as it has not yet filed its Form 20-F for the period ended December 31..The Company has been unable to file the 2023 Form 20-F, partly due to a board restructure on December 15, 2023, and because it was deeply involved in the final stages of the Proposed Acquisition process. This followed a proposal by a company listed on the Dubai Financial Market to acquire all businesses and assets of Brooge Energy. As part of this process, the Company is considering and evaluating a potential delisting from the NASDAQ market. If successful, it is estimated that the closing would happen during the 3rd and 4th quarter of 2024.
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