Company Overview - Primega Group Holdings Limited is a provider of transportation services focused on environmentally friendly practices aimed at facilitating the reuse of construction and demolition materials and reducing construction waste [5] - The company operates in the construction industry in Hong Kong, primarily handling the transportation of materials excavated from construction sites [5] - Services offered include soil and rock transportation, diesel oil trading, and construction works such as excavation and lateral support works and bored piling [5] Listing Compliance Update - On March 12, 2025, the company received a notification from Nasdaq indicating it no longer meets the minimum bid price requirement of $1 per share for continued listing [1] - The company has been granted a 180-day compliance period until September 8, 2025, to regain compliance with Nasdaq's listing requirements [2] - If compliance is not achieved within this period, the company may be eligible for an additional 180 days, provided it meets other listing standards and intends to cure the deficiency, potentially through a reverse stock split [2][3] Future Compliance Efforts - The company is currently evaluating options to regain compliance and is committed to making reasonable efforts to meet Nasdaq's continued listing requirements [3] - There is no assurance that the company will successfully regain compliance with the listing rules [3]
Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency