TREASURE GLOBAL INC (TGL): Nasdaq/NYSE listing notice — TGL receives Nasdaq delisting notice for minimum bid price non-compliance; appeals

TREASURE GLOBAL INC

Nasdaq notified TGL on Feb 15, 2024, it failed to regain compliance with the $1.00 minimum bid price rule.
Company requested a hearing on Feb 16 to appeal the delisting determination and submitted a compliance plan.
Common stock will continue trading on Nasdaq Capital Market under TGL pending the Panel's decision.
No assurance the compliance plan will be accepted or that TGL can regain minimum bid compliance.
Delisting could impair liquidity, price, and ability to raise capital.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

TREASURE GLOBAL INC received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

February 15, 2024, Treasure Global Inc (the “Company”) received a letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company has not regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of at least $1.00 per share (the “Minimum Bid Price Rule”) and that Nasdaq determined that the common stock of the Company will be scheduled for delisting unless the Company requests an appeal of this determination from the Nasdaq Hearings Panel (the “Panel”). On February 16, 2024, the Company submitted a hearing

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Source: SEC EDGAR

accession 0001213900-24-014886

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