EQONEX : Announces Receipt of Nasdaq Delisting Notice - Form 6-K

EQONEX Announces Receipt of Nasdaq Delisting Notice

Singapore - November 28, 2022: EQONEX Limited (NASDAQ: EQOS) ("EQONEX" or the "Company") today announced that on November 21, 2022, it received a written notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") that, because the Company had filed a voluntary application with the High Court of the Republic Singapore to place the Company under (a) judicial management pursuant to section 91 of the Insolvency, Restructuring and Dissolution Act 2018 of Singapore (the "IRDA") (the "JM Application"), and (b) interim judicial management pursuant to section 92 of the IRDA pending the determination of the JM Application, and in accordance with Listing Rules 5101, 5110(b) and IM-5101-1, the staff of Nasdaq's Listing Qualifications department (the "Staff") has determined that the Company's securities will be delisted from Nasdaq. The Notice states that unless the Company requests an appeal of this determination, trading of the Company's securities will be suspended at the opening of business on November 30, 2022.

In addition, as disclosed in the Company's Report of Form 6-K dated July 26, 2022, the Company is not in compliance with the minimum bid price requirement of $1.00 per share set forth in Nasdaq's rules for continued listing on Nasdaq.

The Company intends to request a hearing before the Nasdaq Hearings Panel to appeal the Staff's determination.