BEIJING, Sept. 24, 2018 /PRNewswire/ -- Link Motion
Inc., (NYSE: LKM), a leading smart car and smart ride company,
today announced that it was notified by the New York Stock Exchange
("NYSE") that Link Motion is no longer in compliance with the
listing standard set forth in Section 802.01C of the NYSE Listed
Company Manual. This standard requires the trailing 30-day
average closing share price to remain at or above $1.00.
As outlined in Section 802.01C of the NYSE Listed Company
Manual, upon receiving notice, Link Motion has a six-month cure
period to regain compliance. Within this cure period, Link
Motion must have a closing share price of $1.00 or higher on the last trading day of
a given month or at the end of the cure period. In addition,
Link Motion's coinciding trailing 30-day average closing share
price must also be $1.00 or
higher.
The Company has notified the NYSE of its intention to regain
compliance within the six-month cure period. During the cure
period, Link Motion's stock will continue to be listed on the NYSE,
subject to its ability to remain in compliance with other continued
listing standards. The notice received from the NYSE does not
affect the ongoing business of Link Motion.
About Link Motion Inc.
Link Motion Inc. ("Link Motion" or the "Company", NYSE: LKM) is
a leading smart car and smart ride company. Link Motion's portfolio
of offerings includes enabling technology solutions and secure
connected carputers for the ecosystem of car businesses, consumer
ride sharing services, as well as legacy mobile security,
productivity and other related applications. For more information
on Link Motion, please visit www.lkmotion.com or the company's U.S.
investor relations site here.
Forward Looking Statements
This news 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, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. All statements other than statements of historical fact
in this press release are forward-looking statements and involve
certain risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements.
These forward-looking statements are based on management's current
expectations, assumptions, estimates and projections about the
Company and the industry in which the Company operates, but involve
a number of unknown risks and uncertainties. Further information
regarding these and other risks is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary statements.
Media & Investor Relations
MZ North America
Chris Tyson
Managing Director
949-491-8235
LKM@mzgroup.us
www.mzgroup.us
Luke Zimmerman
Senior Associate
949-259-4987
LKM@mzgroup.us
www.mzgroup.us
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SOURCE Link Motion Inc.
