Gigamedia turnaround plans

GigaMedia Limited has regained its NASDAQ Stock Market minimum bid price listing requirements allowing the company to maintain its listing.

The online entertainment software and services provider who develops and operates a suite of online games in Asia and retains a 40 percent equity interest in Mangas Everest (“Everest Gaming”), delivered weak results in its last fiscal report and has since embarked on a turnaround strategy that revealed its intention to focus on mobile and social gaming.

Recently appointed chief executive officer John Stringer announced progress in new management’s plans that include clear objectives, effective cash management, maintaining the NASDAQ listing and executing a new strategic growth plan.

The company is currently merging its Hong Kong office’s, however, its headquarters will remain in Taipei, Taiwan.