Nasdaq said NewLead would be delisted from the exchange from the start of trading on 22 September having failed to come back into compliance with three sets of regulations.

In late June Nasdaq said NewLead faced de-listing for making false and misleading disclosures, an inability to sustain compliance with a minimum $1.00 share price and failed to regain compliance by 23 June with the $50m in market value required for securities listed on the exchange.