(RTTNews) – Mondee Holdings Inc. (MOND) mentioned that on November 21, Prasad Gundumogula knowledgeable the board of administrators of the corporate that he can be taking a go away of absence as Chief Government Officer of the Firm, efficient as of November 25, 2024. Gundumogula will proceed to function a director and chairman of the corporate’s Board.
The corporate appointed Jesus Portillo because the Chief Government Officer and a member of the Board, efficient as of November 25, 2024. He’ll retain his present duties and tasks as Chief Monetary Officer of the corporate.
The corporate mentioned it obtained a notification letter from the Itemizing {Qualifications} Division of the NASDAQ Inventory Market stating that the corporate will not be in compliance with Nasdaq Itemizing Rule, which requires well timed submitting of experiences with the U.S. Securities and Trade Fee.
Beneath the Nasdaq guidelines, the Firm has 60 days from the date of the discover to submit a plan to Nasdaq to regain compliance with Nasdaq’s itemizing guidelines.
The corporate’s Board of Administrators decided that the corporate doesn’t plan to submit a plan of compliance to Nasdaq to regain compliance with Nasdaq’s itemizing guidelines and doesn’t plan to attraction Nasdaq’s subsequent delisting of its Frequent Inventory from Nasdaq.
MOND closed Tuesday’s common buying and selling at $0.96 down $0.06 or 6.09%. Within the after-hours buying and selling, the inventory additional dropped $0.21 or 21.70%.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
