Core Points - Premium Catering (Holdings) Limited is currently not in compliance with Nasdaq's minimum market value of listing securities (MVLS) requirement of $35 million, as indicated by the MVLS Notice received on December 16, 2024 [1] - The company has 180 days, until June 9, 2025, to regain compliance with the MVLS requirement by maintaining a market value of $35 million or more for at least ten consecutive business days [1] - Additionally, the company received a Minimum Bid Price Notice on December 11, 2024, indicating that its ordinary shares failed to maintain a minimum bid price of $1.00 over the last 30 consecutive business days [2] - The compliance period for the Minimum Bid Price Requirement is also 180 days, expiring on June 9, 2025, with similar conditions for regaining compliance [3] - The company is also not meeting other listing requirements, including maintaining stockholders' equity of at least $2.5 million and a net income standard of $500,000 in the most recently completed fiscal year or in two of the last three fiscal years [4] - Despite these notices, there is no immediate effect on the trading of the company's ordinary shares on the Nasdaq Capital Market [5] Company Overview - Premium Catering (Holdings) Limited is a certified Halal food caterer specializing in Indian, Bangladeshi, and Chinese cuisine, with over 11 years of experience in the catering services industry in Singapore [7] - The company primarily supplies budget prepared meals to foreign construction workers in Singapore and operates food stalls, buffet catering services, and ancillary delivery services [7] - Since 2019, the company has introduced smart incubators for the secure and hygienic delivery of prepared meals to customers [7]
Premium Catering (Holdings) Limited Receives Nasdaq Deficiency Notice Regarding the Minimum Market Value of Listed Securities Requirement and a Nasdaq Deficiency Notice Regarding Minimum Bid Price