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Share Name | Share Symbol | Market | Type |
---|---|---|---|
GigaMedia Ltd | NASDAQ:GIGM | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.37 | 1.30 | 1.40 | 0 | 01:00:00 |
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of January, 2015
Commission File Number: 000-30540
GIGAMEDIA LIMITED
8F, No. 22, Lane 407, Section 2, Tiding Boulevard
Neihu District
Taipei, Taiwan (R.O.C.)
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F x Form 40-F ¨
(Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
Yes ¨ No x
(If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b) :82- .)
GIGAMEDIA LIMITED is submitting under cover of Form 6-K:
1. | GIGAMEDIA Receives Nasdaq Staff Deficiency Letter |
(attached hereto as Exhibit 99.1)
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
GigaMedia Limited | ||||||||
(Registrant) | ||||||||
Date: | January 20, 2015 |
By: | /s/ Dirk Chen | |||||
(Signature) | ||||||||
Name: | Dirk Chen | |||||||
Title: | Chief Financial Officer |
Exhibit 99.1
FOR IMMEDIATE RELEASE | For further information contact: | |
Amanda Chang | ||
Investor Relations Department | ||
Country/City Code 8862 Tel: 2656-8080 | ||
amanda.chang@gigamedia.com.tw |
GIGAMEDIA Receives Nasdaq Staff Deficiency Letter
TAIPEI, Taiwan, January 20, 2015 GigaMedia Limited (NASDAQ: GIGM), an online games and computing services provider, today announced that it received a Deficiency Letter for the minimum bid price requirement for continued listing, dated January 14, 2015, from the NASDAQ Stock Market LLC (the Nasdaq Letter). In the letter, it indicated that the Company failed to meet the minimum bid price requirement as set forth in Listing Rule 5450(a)(1). It has resulted from the fact that the bid price of the Companys common stock closed below US$1 per share for the last 30 consecutive business days.
In accordance with Nasdaq Stock Market Rule 5810 (c)(3)(A), GigaMedia has a grace period of 180 calendar days, or until July 13, 2015, to regain compliance. If at any time before July 13, 2015, the bid price of the Companys common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide a written notification to the Company indicating that it complies with the Minimum Bid Price Rule.
Nasdaq Letter has no immediate impact on the listing of the Companys common stock on the Nasdaq Stock Market. The Companys common stock will continue to trade on the Nasdaq Capital Market under the symbol GIGM.
Gigamedia will monitor the bid price for its common stock between now and July 13, 2015, and will consider available options to resolve the deficiency and regain compliance with the Nasdaq minimum bid price requirement.
This announcement is made in compliance with Nasdaq Stock Market Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.
About GigaMedia
Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a diversified provider of online games and cloud computing services. GigaMedias online games business is an innovative leader in Asia with growing game development, distribution and operation capabilities, as well as platform services for games; focus is on mobile games and social casino games. The companys cloud computing business is focused on providing enterprises in Greater China with critical communications services and IT solutions that increase flexibility, efficiency and competitiveness. More information on GigaMedia can be obtained from www.gigamedia.com.
The statements included above and elsewhere in this press release that are not historical in nature are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. GigaMedia cautions readers that forward-looking statements are based on the companys current expectations and involve a number of risks and uncertainties. Actual results may differ materially from those contained in such forward-looking statements. Information as to certain factors that could cause actual results to vary can be found in GigaMedias Annual Report on Form 20-F filed with the United States Securities and Exchange Commission in April 2014.
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