Technology Stocks

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) Offers Update Regarding The Management Cease Trade Order

Neptune Wellness Solutions Inc. (NASDAQ: NEPT)  has offered an update regarding its previously confirmed management cease trade order disclosed on June 24, 2021, as per the audited financial statement and corresponding management analysis and discussion for the years ending March 31, 2021. In addition, the update includes an annual information form as well as related CFO and CEO certifications that the company didn’t file by the June 30, 2021 deadline. 

Neptune has up to August 31 to comply 

Besides the delayed filing, Neptune also received a letter from the Nasdaq Stock Market Listing Qualification department on July 2, 2021, indicating that the company was not in compliance with the Nasdaq Listing Rule 5250(C)(1) requirements for failing to file the annual report for the fiscal year ending March 31, 2021. However, the letter the company received doesn’t immediately impact the trading/listing of NEPT common stock on the Nasdaq Capital Market. Neptune had up to August 31, 2021, to submit a plan about regaining compliance. 

DingDong picks Deutsche Bank as its depositary bank 

Deutsche Bank has been appointed as NYSE-listed American Depositary Receipt program’s depositary bank of DingDong (Cayman) Limited (NYSE: DDL). DingDong is a leading Chinese e-commerce firm headquartered in Shanghai, which offers fresh produce, seafood, meat, and other products to customers. 

Global Head of Depositary Receipts at Deutsche Bank Daniel Clark said, “We are very pleased to be appointed as depositary bank for DingDong (Cayman) Limited’s Level III American Depositary Receipt program. Leveraging Deutsche Bank’s range of ADR services, we look forward to working with DingDong to help grow the ADR program and diversify the shareholder base.”

Besides specializing in cross-border equity structure administration, Deutsche Bank also offers financial institutions, corporates, and hedge funds globally with agency, escrow, trustee, and other services. 

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