Fenbo reports notice of delisting or failure to satisfy continued listing rule

Fenbo Holdings (FEBO) Limited announced that the company received a letter on January 16, 2025 from the Listing Qualifications Department of The Nasdaq Stock Market LLC. The Determination Letter notified the company that it is not in compliance with Nasdaq Listing Rule 5620(a) and 5810(c)(2)(G), which requires that Nasdaq-listed companies hold an annual meeting of shareholders within twelve months of their fiscal year end, because the company did not hold an annual meeting of shareholders within twelve months of its fiscal year end December 31, 2023. The notification received has no immediate effect on the Company’s Nasdaq listing. In accordance with Nasdaq rules, the company has 45 calendar days, or until March 3, 2025 to submit a plan to regain compliance with the Annual Meeting Requirement. The Determination Letter stated: “Based on our records, your Company has not yet held an annual meeting of shareholders within twelve months of the end of the Company’s fiscal year end and therefore no longer complies with our listing Rules for continued listing. Under our Rule, the Company now has 45 calendar days to submit a plan to regain compliance and if we accept your plan, we can grant an exception of up to 180 days from the fiscal year end, or until June 30, 2025, to regain compliance….” The company is preparing for an annual meeting for its shareholders and expects to regain compliance with the Annual Meeting Requirement thereafter.