JE Cleantech Holdings Limited Announces Grant Of Temporary Exception To Remain Listed On Nasdaq; Says "On Or Before November 14, 2024, The Company Shall Obtain Shareholders Approval For A Reverse Stock Split At A Ratio That Satisfies The Minimum Requirement In The Bid Price Rule"
Portfolio Pulse from Benzinga Newsdesk
JE Cleantech Holdings Limited (NASDAQ:JCSE) has been granted a temporary exception by Nasdaq to remain listed. The company must obtain shareholder approval for a reverse stock split by November 14, 2024, and maintain a $1 closing bid price for ten consecutive business days by December 6, 2024, to comply with Nasdaq's Bid Price Rule.
July 16, 2024 | 12:26 pm
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JE Cleantech Holdings Limited has been granted a temporary exception by Nasdaq to remain listed. The company must obtain shareholder approval for a reverse stock split by November 14, 2024, and maintain a $1 closing bid price for ten consecutive business days by December 6, 2024, to comply with Nasdaq's Bid Price Rule.
The temporary exception allows JCSE to remain listed on Nasdaq, which is crucial for maintaining investor confidence. However, the requirement to effect a reverse stock split and maintain a $1 bid price introduces uncertainty. The stock price may experience volatility as the company works to meet these conditions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100