Primega receives Nasdaq notification of non-compliance

Primega (PGHL) Group Holdings announced that, on March 12, the company received a letter from the Listing Qualifications staff of The Nasdaq Stock Market notifying it that based on the closing bid price of the company for the period from January 28 to March 11, the company no longer meets the continued listing requirement of Nasdaq under Nasdaq Listing Rules 5550(a)(2), to maintain a minimum bid price of $1 per share. The company is currently evaluating options to regain compliance and intends to timely regain compliance with Nasdaq’s continued listing requirement. Although the company will use all reasonable efforts to achieve compliance with Rule 5550(a)(2), there can be no assurance that the company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq continued listing requirement.