Would-be shipowner Hunter Maritime has received a chiding from Nasdaq for its failure to hold an annual meeting.
The Alexander Saverys-led blank cheque company said Thursday it received notice from the New York exchange last week letting it know it has 45 days to submit a plan for an annual meeting.
The company said it intends to do so.
"The notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the company's securities on the Nasdaq Capital Market," Hunter's statement read.
Once Hunter submits a plan, Nasdaq may accept it, giving Hunter up to 180 days from fiscal year end or until 1 July to hold the meeting. If the plan is rejected, Hunter can appeal.
Hunter was started in 2016 with a $152m IPO with the intention of acquiring dry bulk vessels at the bottom of the cycle.
The company has since failed to acquire ships as investors looked to pull their money out of the company.
Since, it has looked to merge with Chinese financial technology outfit NCF Wealth Holdings.
