Core Viewpoint - JBDI Holdings Limited has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement, allowing the company a compliance period until July 6, 2026 to regain compliance [1][2]. Group 1: Nasdaq Notification - The company’s ordinary shares failed to maintain a minimum bid price of $1.00 for 30 consecutive business days, as per Nasdaq Listing Rule 5550(a)(2) [1]. - The company has 180 calendar days, until July 6, 2026, to regain compliance with the minimum bid price requirement [2]. - If the company’s shares reach at least $1 for ten consecutive business days during this period, it will receive written confirmation of compliance [2]. Group 2: Compliance Options - If compliance is not regained by July 6, 2026, the company may be eligible for an additional compliance period, provided it meets other listing requirements [2]. - The company may need to execute a reverse stock split to meet the bid price requirement if necessary [2]. Group 3: Company Commitment - The CEO of JBDI Holdings Limited emphasized the importance of maintaining the Nasdaq listing for shareholder value and pledged efforts towards improved performance to meet listing standards [3]. Group 4: Company Overview - JBDI Holdings Limited specializes in environmentally friendly products and services, focusing on the revitalization, reconditioning, and recycling of drums and related containers in Singapore and Southeast Asia [5]. - The company has nearly four decades of industry experience and aims to help customers achieve a zero environmental impact footprint while optimizing resource allocation and reducing costs [5].
JBDI Holdings Announces Receipt of Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard