Business Context and Reporting Period
This Form 6-K filing by Naked Brand Group Limited (trading symbol: NAKD) covers the month of February 2019. The registrant is a foreign private issuer headquartered in Alexandria, NSW, Australia. The filing specifically addresses a regulatory notice received from The Nasdaq Stock Market regarding the company's continued listing status.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report is a notice of a listing compliance issue rather than a financial results announcement.
Material Changes
The primary material event is the receipt of a notice from Nasdaq on February 5, 2019, stating that the company failed to meet the minimum bid price requirement of $1.00 per share for 30 consecutive business days. Consequently, the company has been granted a 180-day compliance period ending August 5, 2019, to restore the bid price to at least $1.00 for ten consecutive business days.
Outlook, Risks, and Management Commentary
- Listing Risk: If the company fails to regain compliance by August 5, 2019, it may face delisting, though the filing notes eligibility for additional time if compliance is not met within the initial period.
- Current Status: The notice has no immediate effect on trading; shares continue to trade uninterrupted under the symbol "NAKD."
- Management Action: The company intends to actively monitor the bid price and consider all available options to regain compliance.
Investor Verification Checklist
- Verify the current closing bid price of NAKD shares to assess progress toward the $1.00 threshold.
- Monitor for future press releases or filings regarding potential reverse stock splits or other corporate actions intended to address the bid price deficiency.
- Confirm the exact date by which the company must demonstrate ten consecutive days of compliance (August 5, 2019).
- Review the attached press release (Exhibit 99.1) for any additional details on the company's specific strategy to regain compliance.