J-Long Group Limited, Ltd Receives Notification Regarding Non-Compliance with Nasdaq Global Market Minimum Market Value of Publicly Held Shares Requirement
J-Long Group Limited (JL)
Company Research
Source: GlobeNewswire
HONG KONG, Sept. 05, 2024 (GLOBE NEWSWIRE) -- J-Long Group Limited (Nasdaq: JL) (“JL” or the “Company”), today announced that the Company received a written notification (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) on September 3, 2024, notifying the Company that it is not in compliance with the minimum market value of publicly held shares ("MVPHS") requirement set forth in the Nasdaq Listing Rules for continued listing on the Nasdaq Global Market. Nasdaq Listing Rule 5450(b)(1)(C) requires listed securities on the Nasdaq Global Market to maintain a minimum MVPHS of US$5,000,000, and Nasdaq Listing Rule 5810(c)(3)(D) provides that the failure to meet the minimum MVPHS requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice stated that based on the Company’s MVPHS for the last 30 consecutive business days, the Company no longer meets the MVPHS requirement. The Notice does not impact the Company's listing on the Nasdaq
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