Notice of Delisting and Recompliance with the Nasdaq Listing Rule by Investing.com
HONG KONG, Nov. 30, 2024 (GLOBE NEWSWIRE) — On November 21, 2024, Primega Group Holdings Limited (Nasdaq: PGHL) (the Company), notified by the Nasdaq Listing Qualifications Staff of Nasdaq Stock Market LLC (Nasdaq) that the Company does not raise a certain amount of capital as required under Nasdaq Listing Rule 5900 Series (Delisting Notice). Nasdaq Listing Rule 5250(f) states that the Company is required to pay all applicable fees as described in Rule 5900 Series. Nasdaq has notified the Company that failure to comply with this requirement shall serve as grounds for delisting the Company’s securities from the Nasdaq Capital Market. The notice from Nasdaq also explained that if the Company does not choose to file an appeal, the Company will face delisting from the Nasdaq Capital Market and the Company’s shares will be suspended on December 3, 2024.
The Company made full and complete payment of the outstanding balance on November 26, 2024. On November 27, 2024, the Company received a notice from Nasdaq subject to certain disclosure obligations, this press release is part, of the matter. Outstanding Payments are closed.
The Company is now in compliance with Nasdaq Listing Rule 5250(f).
Trading of the Company’s shares is unaffected and continues as normal.
The Delisting Notice does not affect the Company’s business performance or financial condition, and we remain focused on maintaining business growth. The Company and any of its subsidiaries are not subject to other disciplinary actions by Nasdaq.
Company rating PRIMEGA GROUP HOLDINGS LIMITED
About Primega Group Holdings Limited
Primega Group Holdings Limited is a provider of logistics services that uses environmentally friendly processes with the aim of facilitating the reuse of construction and demolition materials and reducing construction waste. Through a subsidiary in Hong Kong, the Company operates in the construction industry, mainly handling excavated materials for construction sites. Services primarily include (i) earth and rock transportation services; (ii) trading in diesel oil; and (iii) construction activities, which include mainly excavation and side support activities and boring piling. The company generally provides its services as a subcontractor to other construction contractors in Hong Kong.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and assumptions about future events that the Company believes may affect its financial condition, results of operations, business strategy and financing needs. Investors can find many (but not all) of these statements by using words such as estimates, beliefs, hopes, expectations, expectations, estimates, projects, intends, plans, will, should, may, or other similar expressions. in this press release. The Company undertakes no obligation to update or publicly revise any forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee that such expectations will prove to be accurate, and the Company cautions investors that actual results may differ materially from anticipated results and encourages investors to review other factors that may affect its future results in the Company’s filings with the SEC .
For investor and media inquiries, please contact:
Company Information
Rating of the company Primega Group Holdings Limited
Man Siu Ming, Director and Chairman of the Board
msm@primegagroup.com
+852 3997 3682
Investor Relations
Rating of the company HBK Strategy Limited
Katy Chan, Director
ir@hbkstrategy.com
+852 2498 3681
Source: Primega Group Holdings Limited
