Up on dispute settlement with lenders
05/10/2020 23:20
** Shares of intimate apparel and swimwear co NAKD.O up
13.2% at $0.13 in extended trade
** NAKD says co and unit Bendon Ltd settled dispute with the
lenders Timothy Connell, William Gibson and Ivory Castle Ltd
** According to agreement, lenders agreed to settle in
consideration for unit's issuance of redeemable conversion
shares of $3.8 mln (https://bit.ly/2GvRwQz)
** Co also believes it has regained compliance with the
Nasdaq's stockholders' equity rule; on May 14 Nasdaq informed Co
that it was not in compliance with the equity standard for
continued listing (https://bit.ly/33vuxxJ)
** NAKD is down ~93% YTD
(Reporting by Arunima Kumar in Bengaluru)
((Arunima.Kumar@thomsonreuters.com))