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Oriental Rise Receives Nasdaq Notification Regarding Minimum Bid-Price Requirement
Globenewswireยท 2025-07-07 19:05
Core Viewpoint - Oriental Rise Holdings Limited has received a notification from Nasdaq regarding non-compliance with the minimum bid-price requirement due to its ordinary shares trading below US $1.00 for 30 consecutive business days [1][2]. Compliance Status - The closing bid price of the Company's ordinary shares was below US $1.00 from May 15, 2025, to June 27, 2025 [2]. - The Company has a 180-calendar-day compliance period, ending on December 29, 2025, to regain compliance with the minimum bid-price rule [2]. - If the closing bid price reaches at least US $1.00 for a minimum of 10 consecutive business days during this period, Nasdaq will confirm compliance [2]. Potential Actions - If compliance is not regained within the initial period, the Company may be eligible for an additional 180-calendar-day grace period, provided it meets other continued-listing criteria [3]. - The Company may consider implementing a reverse stock split if necessary to regain compliance [3]. Company Operations - Oriental Rise is an integrated supplier of tea products in mainland China, focusing on white and black tea [5]. - The Company's operations include cultivation, processing, and sale of tea products to both wholesale distributors and retail customers [5]. - The Company operates tea gardens located in Zherong County, Ningde City, Fujian Province [5].