ModusLink Global Solutions™, Inc. (NASDAQ: MLNK) today announced that on October 16, 2012, as expected, it received a notification letter from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“NASDAQ”). The letter stated that ModusLink’s delay in filing the Company’s Annual Report on Form 10-K for its fiscal year ended July 31, 2012 serves as an additional basis for the potential delisting of its shares under NASDAQ Listing Rule 5250(c)(1). The Company is working to complete its previously announced process to restate financial results for certain prior periods and become current in its periodic report filings with the Securities and Exchange Commission (“SEC”).
As previously disclosed, ModusLink received an extension from NASDAQ allowing the Company until December 10, 2012 to become current in its periodic report filings with the SEC and thereby regain compliance with NASDAQ listing rules. ModusLink expects to complete this process and make its regulatory filings as soon as practicable. The Company expects to be able to satisfy conditions for listing.
About ModusLink Global Solutions
ModusLink Global Solutions Inc. (NASDAQ: MLNK) executes comprehensive supply chain and logistics services that improve clients’ revenue, cost, sustainability and customer experience objectives. ModusLink is a trusted and integrated provider to the world’s leading companies in consumer electronics, communications, computing, medical devices, software, luxury goods and retail. The Company’s operating infrastructure annually supports more than $80 billion of its clients’ revenue and manages approximately 470 million product shipments through more than 30 sites in 15 countries across North America, Europe, and the Asia/Pacific region. For details on ModusLink’s flexible and scalable solutions visit www.moduslink.com and www.valueunchained.com, the blog for supply chain professionals.ModusLink Global Solutions is a trademark of ModusLink Global Solutions Inc. All other company names and products are trademarks or registered trademarks of their respective companies.