Core Viewpoint - Ten-League International Holdings Limited is facing potential delisting from Nasdaq due to non-compliance with the Minimum Bid Price Rule, as its stock price has not maintained the required minimum of $1.00 per share for 30 consecutive business days [2][3]. Company Overview - Ten-League International Holdings Limited is a Singapore-based provider of turnkey project solutions, primarily engaged in the sales of heavy equipment and parts, heavy equipment rental, and engineering consultancy services for various industries including port, construction, civil engineering, and underground foundation [5]. - The company's equipment is categorized into four types: foundation equipment, hoist equipment, excavation equipment, and port machinery, with a focus on providing value-added engineering solutions to enhance safety, reliability, and productivity [5]. Compliance and Delisting Process - The company received a Staff Determination from Nasdaq indicating that it has not regained compliance with the Minimum Bid Price Rule and is not eligible for a second grace period [2]. - The company plans to request a hearing before an independent Hearing Panel to contest the delisting and will submit a plan to regain compliance, although there is no assurance that the plan will be accepted or successful [3][4].
Ten-League International Holdings Limited Announces Receipt of Nasdaq Staff Delisting Determination and Plans to Appeal