ABINGDON, OXFORDSHIRE / ACCESSWIRE / February 3, 2023 / Midatech Pharma PLC (AIM:MTPH.L)(NASDAQ:MTP), a drug delivery technology company focused on improving the bio-delivery and biodistribution of medicines, announces that it received written notification (the "Notification Letter") from The NASDAQ Stock Market LLC ("NASDAQ"), dated 31 January 2023, stating that the Company is not in compliance with the minimum bid price requirement set forth in NASDAQ's rules for continued listing on The NASDAQ Capital Market. NASDAQ Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company's American Depositary Shares (the "Depositary Shares"), each representing 25 ordinary shares of the Company, for the 30 consecutive business days beginning 14 December 2022, the Company no longer meets the minimum bid price requirement.
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