Freedom Holding Corp. (FRHC): Nasdaq/NYSE listing notice — Freedom Holding receives Nasdaq noncompliance notice for late Q1 filing; exec pay raised

Freedom Holding Corp.

Nasdaq notified Freedom Holding on Aug 11, 2023, of noncompliance with Listing Rule 5250(c)(1) for failing to timely file Form 10-Q for June 30, 2023.
Company has 60 days (until Oct 10, 2023) to submit a compliance plan; if accepted, Nasdaq may grant up to 180 days (to Feb 5, 2024).
CEO base salary increased to $2.5M (from $1.15M), President and CFO to $1M each (from ~$319K and ~$316K), retroactive to Apr 1, 2023.
New quarterly bonus plan: CEO eligible for up to $625K/quarter, President and CFO up to $250K/quarter; Q1 bonuses of those amounts were approved.

item 3.01 item 5.02

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Freedom Holding Corp. received a nasdaq deficiency notice notice regarding late filing (rules 5250(c)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: late filing
Rules: 5250(c)(1)

Exact text from the filing

August 11, 2023, Freedom Holding Corp. (the “Company”) received a letter (the “Non-Compliance Letter”) from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) stating that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Nasdaq Listing Rule") as a result of its failure to have timely filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 (the “June 2023 10-Q”). The Non-Compliance Letter provides that, under Nasdaq rules, the Company now has 60 calendar days, or until October 10, 2023, to submit to Nasdaq a plan to regain

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Freedom Holding Corp. filing history →

Source: SEC EDGAR

accession 0000924805-23-000084

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