Sangoma Technologies Corp T.STC

Nasdaq listing

[CandyC]

Would anyone know if Sangoma has plans to apply for a listing on the Nasdaq?

[profitprophet1]

Yes they have definite plans to explore that. See slide 28 of the investor deck on the company's website.

[AnitaGet]

The S2S circular sent to shareholder last week states that Mr W (current CEO of S2S) will become the new chairman of the board at Sangoma replacing Mandelstam. If after 18 months, Sangoma does not reach a US listing, Mr W has the right to appoint another board member of his choosing. This is all designed to tip the balance of power in the favour of Mr W and shift the company, if Wignall et al do

[Torontojay]

The magic number is $4 (US) or in some special circumstance $3 (US) is allowed. At $4 (us) and with an exchange rate currently 1us= 1.25 cad, we would require the share price to be above $5 for the application to begin. If they qualify for $3(us) we would need the share price to be at $3.75 (cad)  https://listingcenter.nasdaq.com/assets/initialguide.pdf https://www.investopedia.com/ask

[CandyC]

@TorontoJay would you know what the typical timeline would be to get the listing approved? Thanks 

[Torontojay]

Application process is around 4-6 weeks give or take 

[AnitaGet]

4-6 weeks feels more like the application process only.  There is considerable compliance that must be “proven” and corporate governance that must be integrated into daily routine in all departments. It's more than a self declare process. While I acknowledge it's not the same, prehaps a parallet scenario to getting onto NASDAQ is something like going through SOC2 or ISO certification

[CandyC]

Thanks. So perhaps by early next year it would seem?

[AnitaGet]

Your prediction is as good as mine. BTW, the numbers I put out, are soft cost #'s, not hard dollars owing. Anita.

[Torontojay]

Thanks Anita.