Hong Kong, December 30, 2024 (GLOBE NEWSWIRE) — Restricted Backyard Scene (NASDAQ: GSIW) (GSIW or the Firm), as we speak introduced that it obtained a cost default notification letter (the Discover) from the Itemizing {Qualifications} Division of The Nasdaq Inventory Market LLC (Nasdaq) on 24 December 2024 indicating that the Firm just isn’t at the moment in compliance with the minimal bid value requirement set forth within the Nasdaq Itemizing Guidelines for continued itemizing on the Nasdaq Capital Market, as The closing bid value for the Firm’s widespread inventory listed on the Nasdaq Capital Market was lower than $1.00 per share for 30 consecutive enterprise days. Nasdaq Itemizing Rule 5550(a)(2) requires listed securities to keep up a minimal bid value of $1.00 per share, and Nasdaq Itemizing Rule 5810(c)(3)(A) offers that There’s non-compliance with the minimal purchaser value requirement. if the deficit persists for a interval of 30 consecutive enterprise days. The discover offers that the corporate has 180 calendar days from the date of the discover, or till June 23, 2025, to re-comply with the minimal supply value requirement. .
Receipt of the discover has no fast impact on the enterprise operations of the Firm or the itemizing of the Firm’s widespread inventory, which can proceed to commerce with out interruption on Nasdaq underneath the image GSIW. Pursuant to the Discover, the Firm has till June 23, 2025 to return to compliance with the minimal bid value requirement, throughout which era the Firm’s widespread inventory will proceed to commerce on the Nasdaq Capital Market . If, at any time earlier than June 23, 2025, the bid value of the Firm’s widespread inventory closes at or above $1.00 per share for no less than 10 consecutive enterprise days, Nasdaq will present the Firm with written affirmation compliance.
Within the occasion that the Firm doesn’t regain compliance by June 23, 2025, the Firm could also be entitled to further time to revive compliance. To qualify, the Firm could be required to fulfill continued itemizing necessities with respect to the market worth of public shares and all different preliminary itemizing requirements for the Nasdaq Capital Market, besides minimal purchaser value requirement. Moreover, the Firm could be required to inform Nasdaq of its intention to treatment the deficiency throughout the second compliance interval.
About Backyard Stage Restricted
GSIW, by our working subsidiaries, is a Hong Kong-based monetary providers supplier principally engaged within the provision of (i) funding and underwriting providers; (ii) securities buying and selling and brokerage providers; (iii) asset administration providers; and (iv) funding advisory providers. Our operations are carried out by our wholly owned working subsidiaries: a) I Win Securities Restricted, which is allowed to hold out Sort 1 regulated actions (securities buying and selling) underneath the SFO in Hong Kong, and b) I Win Asset Administration Restricted, which is allowed to hold out Sort 4 (securities recommendation) and Sort 9 (asset administration) regulated actions underneath the SFO in Hong Kong. I Win Securities Restricted is the participant of the change and holds buying and selling rights on the change. I Win Securities Restricted is a participant of the HKSCC.
Protected Harbor Assertion
This announcement accommodates forward-looking statements. These statements are made underneath the “protected harbor” provisions of the USA Personal Securities Litigation Reform Act of 1995. These forward-looking statements will be recognized by terminology equivalent to “will”, “expects”, ” anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “assured” and related statements. The Firm may make written or oral forward-looking statements in its periodic experiences to the USA Securities and Alternate Fee, in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers. to 3rd events. Statements that aren’t historic details, together with, however not restricted to, statements relating to the Firm’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Quite a few components may trigger precise outcomes to vary materially from these contained in any forward-looking assertion. Additional info relating to these and different dangers is included within the Firm’s filings with the Securities and Alternate Fee. All info supplied on this press launch is as of the date of the press launch, and the Firm undertakes no obligation to replace this info besides as required by relevant legislation.
For extra info, please contact:
Restricted Backyard Scene
Chan Sze Ho
Basic supervisor
Electronic mail: rickychan@iwinsec.com
Tel: (852) 2688 6333
Supply: Backyard Course Restricted
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