Selina Receives Nasdaq Notice and Provides Update on Nasdaq Hearings Panel

Selina Hospitality PLC ("Selina" or the “Company”; NASDAQ: SLNA), a global lifestyle and experiential hospitality company catering to millennial and Gen Z travelers, announces today that it has received a notice from The Nasdaq Stock Market LLC (“Nasdaq”) dated May 20, 2024. This notice informs the Company of its delinquency in filing its Form 20-F for the year ended December 31, 2023 (“2023 20-F”) in accordance with Nasdaq listing requirements (the “Reporting Obligations”) as previously disclosed by the Company on May 1, 2024.

The notice specifies that the delay in filing the 2023 20-F serves as an added basis for potentially delisting the Company’s securities from The Nasdaq Stock Exchange. This follows an earlier staff determination letter, dated April 17, 2024, which stated that since the closing bid price of the Company’s ordinary shares had fallen below $0.10 for ten consecutive trading days from April 3, 2024, to April 16, 2024, the Nasdaq staff had determined, according to Listing Rule 5810(c)(3)(A)(iii) (the “Low Price Stock Requirement”), to potentially delist the Company’s securities. Additionally, the Company had received a letter on September 8, 2023, indicating that the Company was not in compliance with Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”) due to the bid price of the Company’s listed securities closing below $1.00 per ordinary share for 30 consecutive business days prior to the notice.

In response to the Company’s non-compliance with the Minimum Bid Price Requirement, the Company was initially granted 180 calendar days, until March 6, 2024, to regain compliance. Following the transfer of the Company’s securities to the Nasdaq Capital Market in March 2024, an additional 180-day period was granted, extending the compliance deadline to September 3, 2024.

The Company has actively communicated these developments through Reports on Form 6-K issued on September 12, 2023, March 7, 2024, and April 22, 2024.

In light of the previous Nasdaq staff determination to commence the process for delisting of the Company’s ordinary shares, the Company requested a hearing with the Nasdaq Hearings Panel and the hearing is now scheduled for June 4, 2024. The delisting action was temporarily stayed pending a final decision by the Hearings Panel. The new notice mentions that the Company has until May 28, 2024, to request an additional stay, beyond an initial 15 calendar-day period and the Hearings Panel decision. The Company intends to submit this request by the required deadline.