Sify regains compliance with Nasdaq Minimum Bid Price requirement
Chennai: October 5, 2017: Sify Technologies Limited (Nasdaq: SIFY), a leader in Telecom and Data Center centric IT services in India with global delivery capabilities, today announced it received a letter from Nasdaq confirming that it has regained compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.
In December 2016, Nasdaq had notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market.
Since then, Nasdaq has determined that from September 14 to 27, 2017, the closing bid price of the Company’s common stock has been at $1.00 per share or greater.
In a letter dated September 28, 2017, Nasdaq notified Sify that it has regained compliance with Listing Rule 5550(a)(2) and the matter is now closed.
About Sify Technologies
Sify Technologies Limited (NASDAQ NM: SIFY), is an acknowledged ICT leader in the Telecom and Data Center centric IT services space with global delivery capabilities. Among the very few Integrated ICT players in India, Sify, today has the presence in 1500 cities in India and in North America, United Kingdom, and Singapore.
More than 9000 Enterprises access Sify’s IT services that’s focused on the Data Center and Cloud platform and connected through India’s largest MPLS network. As a truly converged ICT solutions and services provider, Sify is the preferred IT Services partner with a full suite of services ranging from Telecom connectivity services to Data Center transformation services along with Application and Security Services delivered on the same infrastructure.
Sify, Sify Technologies, and www.sifytechnologies.com are registered trademarks of Sify Technologies Limited.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Sify undertakes no duty to update any forward-looking statements.
For a discussion of the risks associated with Sify’s business, please see the discussion under the caption “Risk Factors” in the company’s Annual Report on Form 20-F for the year ended March 31, 2017, which has been filed with the United States Securities and Exchange Commission and is available by accessing the database maintained by the SEC at www.sec.gov, and Sify’s other reports filed with the SEC.
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