J-Long Group Limited Announces Share Consolidation/Reverse Stock Split to Regain NASDAQ Compliance
J-Long Group Limited (JL)
Company Research
Source: GlobeNewswire
Hong Kong, Nov. 22, 2024 (GLOBE NEWSWIRE) -- J-Long Group Limited (Nasdaq: JL), a Hong Kong based and established distributor of reflective and non-reflective garment trims including, among others, heat transfers, fabrics, woven labels and tapes, sewing badges, piping, zipper pulls and drawcords, today announced today that it will effect a share consolidation (“Reverse Stock Split”) of its Ordinary Shares at a ratio of 1-for-10, effective as of 11:59 pm on December 3, 2024 (the “Effective Time”), in order to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq’s Marketplace Rules 5550(a)(2) and Rule 5450(a)(1). The Company’s Ordinary Shares are expected to begin trading on a Reverse Stock Split adjusted basis on Nasdaq as of the open of trading on December 4, 2024, under the existing ticker symbol “JL.” The Company’s members (Stockholders) previously approved the reverse stock split and granted the Company’s board of directors the authority to determi
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