JE Cleantech就纳斯达克暂停决定提交听证请求

2024-06-21 02:54

Singapore-based JE Cleantech Holdings (NASDAQ:JCSE) said on Thursday that Nasdaq has determined to suspend the trading of its ordinary shares from June 26, and the company has submitted a hearing request against the determination.
The company received a determination letter from the stock exchange's Listing Qualifications Department on June 17.
Nasdaq had notified the company on December 14, 2023, that its bid price had closed at less than $1 per share over the previous 30 consecutive business days. The company was provided 180 calendar days, or until June 11, 2024, to regain compliance.
"The company has not regained compliance with the Rule and is not eligible for a second 180-day period," the determination letter said.
"Specifically, staff does not believe the company will cure the deficiency and sustain compliance," the letter added.
The stock exchange determined that JCSE's ordinary shares will be scheduled for delisting and suspended at the open of business on June 26. The company was given time until June 24 4:00 PM ET to appeal the delisting determination to a Hearings Panel, and request a hearing to stay the suspension of the shares from trading.
The company said it has submitted a hearing request for an oral hearing and paid the hearing fee of $20K.
The shares will continue to trade on the stock exchange following the submission of the hearing request until a final determination has been made by Nasdaq.
Source: Press Release

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