Brooge Energy Ltd Announces Receipt of Nasdaq Staff Determination Letter

NEW YORK, Nov. 04, 2022 (GLOBE NEWSWIRE) — Brooge Energy Ltd, (“Brooge Energy” or the “Company”) (Nasdaq:BROG), a Cayman Islands-based infrastructure provider, which is currently engaged in clean petroleum products and biofuels and crude oil storage and related services, today announced that it has received a staff determination letter (the “Letter”) from The Nasdaq Stock Market (“Nasdaq”) dated October 31, 2022. The Company intends to request a hearing  before a Nasdaq Hearings Panel (the “Panel”) at which it will request a further extension of time.  The hearing request will automatically stay any suspension or delisting action through November 22, 2022; however, in connection with the hearing request, the Company will request that the Nasdaq stay remain in effect through the completion of the hearings process and the expiration of any additional extension period granted by the Panel following the hearing.  In the event the extended stay is not granted, the Company will continue to trade on the OTC Markets Expert Market under the same symbol “BROG.”

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