Carbon Revolution receives non-compliance letter from Nasdaq

Carbon Revolution (CREV) announced that the company has received a notification letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC indicating that the company is not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the company’s delay in filing its Annual Report on Form 20-F for the fiscal year ended June 30, 2024. The Letter has no immediate effect on the listing or trading of the company’s ordinary shares or warrants on Nasdaq. The Letter stated that, under Nasdaq rules, the company has until 60 calendar days after receipt of the Letter, which is January 21, 2025, to submit a plan to regain compliance, and that if a plan is submitted and accepted, Nasdaq could grant the company an exception of up to 180 calendar days from the filing’s due date, or until May 14, 2025, to regain compliance. If Nasdaq does not accept the company’s plan, then the company will have the opportunity to appeal that decision to a Nasdaq hearings panel. The company continues to work diligently to file its Annual Report as promptly as practical to regain compliance with Nasdaq Listing Rule 5250(c)(1).