SU Group Holdings Limited received a letter from Nasdaq notifying the company of non-compliance with the minimum bid price requirement, Nasdaq Listing Rule 5550(a)(2). The closing bid price of the company's ordinary shares had been below $1.00 per share for 30 consecutive business days. This notification does not have an immediate effect on the listing or trading of the company's shares.
The company has a compliance period of 180 calendar days, until September 16, 2025, to regain compliance. To achieve this, the closing bid price of its ordinary shares must be at least $1.00 for a minimum of 10 consecutive business days. SU Group intends to monitor its share price and consider available options, including a reverse stock split, to regain compliance.
Failure to regain compliance within the specified period could lead to delisting, impacting the company's access to capital markets and investor visibility. This regulatory challenge introduces uncertainty regarding the company's continued listing on Nasdaq. The company's ability to address this deficiency is critical for its public market presence.
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