CBD Energy receives Nasdaq delisting warning

Dec 9, 2014 - Australian renewable energy firm CBD Energy Ltd (NASDAQ:CBDE) said yesterday it had been notified that its stock would be delisted from the Nasdaq stock exchange.

The delisting will be implemented in view of the voluntary administration of CBD Energy’s solar installation unit Westinghouse Solar Pty Ltd. The delisting notice was issued by Nasdaq’s Listing Qualifications Department due to public interest concerns triggered by uncertainties related to the viability, operational and financial status of the company and its ability to remain compliant with all requirements for continued listing on the bourse.

The Australian firm has filed an appeal of the delisting determination, with a hearing scheduled to take place on January 8. Meanwhile, trading of the company’s stock will be suspended.

CBD Energy’s units Westinghouse Solar Inc in the US and Westinghouse Solar Ltd in Britain remain unaffected from Westinghouse Solar’s administration procedures, the Australian firm said in November.

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