Greek bulker owner Seanergy Maritime Holdings must regain a market value ofmore than $5m or risk delisting from the Nasdaq exchange.

The Restis-controlled company said it had received notice on Monday that thevalue of its publicly held shares had dropped below the required threshold for30 consecutive days from 16 May.

It said it was therefore not in compliance with listing rules.

“The applicable grace period to regain compliance is 180 days,” it added.

Seanergy said it intended to monitor the value between now and 26 December andis “considering its options in order to regain compliance.”