SINGAPORE, June 13, 2025 (GLOBE NEWSWIRE) -- JBDI Holdings Limited (“JBDI” or the “Company”) (Nasdaq: JBDI), a Singapore-based company, today announced that all the proposed resolutions submitted for shareholder approval set out in the notice of its Annual General Meeting (“AGM”) were duly adopted at the meeting held on June 9, 2025, at the Company’s offices located at 34 Gul Crescent, Singapore 629538. Appointment of Board of Directors At the AGM, shareholders approved and ratified the appointment of follo ...

Core Viewpoint - JBDI Holdings Limited has regained compliance with Nasdaq's periodic filing requirements, allowing the company to focus on delivering long-term value to shareholders [1][2]. Company Overview - JBDI Holdings Limited is a leading provider of environmentally friendly and efficient products and services, specializing in the revitalization, reconditioning, and recycling of drums and related containers in Singapore and Southeast Asia [3]. - The company has nearly four decades of industry experience and is known for its quality and reliability, offering a wide range of reconditioned steel and plastic drums, new containers, and ancillary services [3]. - JBDI's mission is to help customers achieve a zero environmental impact footprint while optimizing resource allocation and reducing costs [3]. Recent Developments - On June 5, 2025, JBDI filed its unaudited condensed consolidated financial statements for the six-month periods ended November 30, 2024, and 2023 with the Securities and Exchange Commission [2]. - The CEO, Mr. Lim Chwee Poh, expressed satisfaction in regaining full compliance with Nasdaq's listing requirements, emphasizing the company's focus on shareholder value [2].

Core Points - JBDI Holdings Limited has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) as of June 3, 2025, after previously failing to maintain a minimum bid price of $1.00 for 30 consecutive business days [1][2] - The company received a deficiency notice from Nasdaq on June 3, 2025, for not filing its interim balance sheet and income statement for the second quarter, thus violating Listing Rule 5250(c)(2) [4] - JBDI Holdings filed its unaudited condensed consolidated financial statements for the six-month periods ended November 30, 2024, and 2023 on June 5, 2025, and intends to notify Nasdaq of this filing to regain compliance with the listing rule [5] Company Overview - JBDI Holdings Limited specializes in environmentally friendly and efficient products and services, focusing on the revitalization, reconditioning, and recycling of drums and related containers in Singapore and Southeast Asia [7] - The company has nearly four decades of industry experience and is recognized for quality and reliability, offering a range of reconditioned steel and plastic drums, new containers, and ancillary services [7] - JBDI's mission is to help customers achieve a zero environmental impact footprint while optimizing resource allocation and reducing costs [7]

Company Overview - JBDI Holdings Limited is a leading provider of environmentally friendly and efficient products and services, specializing in the revitalization, reconditioning, and recycling of drums and related containers in Singapore and Southeast Asia [3] - The company has nearly four decades of industry experience and has established a strong reputation for quality and reliability, offering a wide range of reconditioned steel and plastic drums, new containers, and ancillary services [3] - JBDI's mission is to help customers achieve a zero environmental impact footprint while optimizing resource allocation and reducing costs [3] Share Repurchase Program - The board of directors of JBDI has approved a share repurchase program, allowing the company to repurchase up to US$1.0 million worth of its ordinary shares [1] - Proposed repurchases may occur on the open market at prevailing market prices, in privately negotiated transactions, in block trades, and through other legally permissible means, depending on market conditions [2] - The board will periodically review the share repurchase program and may authorize adjustments to its terms and size [2]