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HONG KONG, Nov. 30, 2024 (GLOBE NEWSWIRE) -- On November 21, 2024, Primega Group Holdings Limited (Nasdaq: PGHL) (the Company), was notified by Nasdaq Listing Qualifications Staff of the Nasdaq Stock Market LLC (Nasdaq) that the Company has not paid a sum of definite fees arsenic required nether Nasdaq Listing Rule 5900 Series (Delisting Notice). Nasdaq Listing Rule 5250(f) states that the Company is required to wage each applicable fees arsenic described successful the Rule 5900 Series. Nasdaq notified the Company that the nonaccomplishment to comply with this request served arsenic a ground for delisting the Company's securities from the Nasdaq Capital Market. The notification from Nasdaq further outlined that if the Company does not elite to appeal, the Company volition look delisting from the Nasdaq Capital Market and the Company's shares volition beryllium suspended connected December 3, 2024.
The Company has made a afloat and implicit repayment of the outstanding fees connected November 26, 2024. On November 27, 2024, the Company received notification from Nasdaq that taxable to definite disclosure obligations, which this property merchandise forms a portion of, the substance regarding Outstanding Fees is closed.
The Company is present successful compliance with Nasdaq Listing Rule 5250(f).
Trading of the Company's shares is unaffected and continues arsenic usual.
The Delisting Notice does not interaction the Company's concern operations oregon fiscal position, and we stay focused connected maintaining concern growth. Neither the Company nor immoderate of its subsidiaries are taxable to immoderate further disciplinary enactment by Nasdaq.
PRIMEGA GROUP HOLDINGS LIMITED
About Primega Group Holdings Limited
Primega Group Holdings Limited is simply a supplier of proscription services that employs environmentally affable practices with the purpose of facilitating reuse of operation and demolition materials and simplification of operation waste. Through an operating subsidiary successful Hong Kong, the Company operates successful the operation industry, chiefly handling proscription of materials excavated from operation sites. The services principally comprise of (i) ungraded and stone proscription services; (ii) diesel lipid trading; and (iii) operation works, which chiefly see excavation and lateral enactment works and bored piling. The Company mostly provides its services arsenic a subcontractor to different operation contractors successful Hong Kong.
Forward-Looking Statements
Certain statements successful this property merchandise are forward-looking statements. These forward-looking statements impact known and chartless risks and uncertainties and are based connected the Company's existent expectations and projections astir aboriginal events that the Company believes whitethorn impact its fiscal condition, results of operations, concern strategy and fiscal needs. Investors tin find galore (but not all) of these statements by the usage of words specified arsenic approximates, believes, hopes, expects, anticipates, estimates, projects, intends, plans, will, would, should, could, whitethorn oregon different akin expressions successful this property release. The Company undertakes nary work to update oregon revise publically immoderate forward-looking statements to bespeak consequent occurring events oregon circumstances, oregon changes successful its expectations, but arsenic whitethorn beryllium required by law. Although the Company believes that the expectations expressed successful these forward-looking statements are reasonable, it cannot guarantee you that specified expectations volition crook retired to beryllium correct, and the Company cautions investors that existent results whitethorn disagree materially from the anticipated results and encourages investors to reappraisal different factors that whitethorn impact its aboriginal results successful the Company's filings with the SEC.
For capitalist and media inquiries, delight contact:
Company Info
Primega Group Holdings Limited
Man Siu Ming, Director and Chairman of the Board
msm@primegagroup.com
+852 3997 3682
Investor Relationship
HBK Strategy Limited
Katy Chan, Director
ir@hbkstrategy.com
+852 2498 3681
Source: Primega Group Holdings Limited
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