Breaking News: Premium Catering Holdings Limited Faces Nasdaq Deficiency Notices

SINGAPORE, Dec. 16, 2024 (GLOBE NEWSWIRE)

Premium Catering (Holdings) Limited (NASDAQ: PC) disclosed that it received a notice (the “MLVS Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is currently not in compliance with the minimum market value of listing securities (the “MVLS”) of $35,000,000 for the continued listing of the Company’s ordinary shares (the “Ordinary Shares”) on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(b)(2) (the “MLVS Requirement”). Nasdaq calculates the MVLS based upon the most recent total shares outstanding multiplied by the closing bid price.

The MVLS Notice indicated that the Company has 180 days, or until June 9, 2025 (the “Compliance Deadline”), to regain compliance with the MLVS Requirement by having its MVLS close at $35,000,000 or more for a minimum of ten consecutive business days. If at any time prior to June 9, 2025, the Company’s MVLS closes at $35,000,000 or more for a minimum of ten consecutive business days, Nasdaq will provide a written confirmation of compliance, and the matter regarding the Company’s MLVS will be closed. Receipt of the MVLS Notice does not result in the immediate delisting of the Company’s ordinary shares and has no immediate effect on the listing or the trading of the Company’s ordinary shares on the Nasdaq Capital Market under the symbol “PC”.

How This Will Affect Me

As an investor in Premium Catering Holdings Limited, receiving this notice may lead to uncertainty and potential fluctuations in share prices. It is essential to closely monitor the company’s performance and compliance efforts to make informed decisions regarding holding, selling, or buying additional shares.

How This Will Affect the World

The Nasdaq deficiency notices received by Premium Catering Holdings Limited highlight the importance of regulatory compliance and financial stability in the global market. Such actions can impact investor confidence, stock market stability, and overall economic performance on a broader scale. It serves as a reminder for businesses worldwide to adhere to listing requirements and maintain transparency in their financial operations.

Conclusion: Premium Catering Holdings Limited’s situation with the Nasdaq deficiency notices underscores the significance of meeting market value and listing requirements to ensure continued compliance and investor trust. It serves as a cautionary tale for companies to proactively address any potential deficiencies and maintain financial transparency for sustainable growth and market stability.