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6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC announcement ·  Apr 25 04:36
Summary by Futu AI
ESGL Holdings Limited, a foreign private issuer, has been notified by The Nasdaq Stock Market LLC of non-compliance with certain listing rules. The company's share price was below the minimum bid price of $1.00 for 30 consecutive business days, and its Market Value of Publicly Held Shares was under the required $5 million for the same duration. Despite being given a 180-day compliance period until April 22, 2024, ESGL Holdings failed to meet the criteria. Before the deadline, the company applied to transfer its securities to the Nasdaq Capital Market and paid the associated fee, with the intention to remedy the deficiencies, potentially through a reverse stock split. While ESGL Holdings believes it meets the Capital Market's listing requirements except for the bid price, there is no guarantee that Nasdaq will approve the transfer. The company's securities will remain trading on Nasdaq until a decision is made regarding the transfer application. The report was signed by Chief Financial Officer Ho Shian Ching.
ESGL Holdings Limited, a foreign private issuer, has been notified by The Nasdaq Stock Market LLC of non-compliance with certain listing rules. The company's share price was below the minimum bid price of $1.00 for 30 consecutive business days, and its Market Value of Publicly Held Shares was under the required $5 million for the same duration. Despite being given a 180-day compliance period until April 22, 2024, ESGL Holdings failed to meet the criteria. Before the deadline, the company applied to transfer its securities to the Nasdaq Capital Market and paid the associated fee, with the intention to remedy the deficiencies, potentially through a reverse stock split. While ESGL Holdings believes it meets the Capital Market's listing requirements except for the bid price, there is no guarantee that Nasdaq will approve the transfer. The company's securities will remain trading on Nasdaq until a decision is made regarding the transfer application. The report was signed by Chief Financial Officer Ho Shian Ching.
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