JBDI Holdings receives Nasdaq notification on listing rule

JBDI Holdings (JBDI) announced that it has received a written notification dated January 7 from the Listing Qualifications Department of The Nasdaq Stock Market, which stated that the company’s ordinary shares failed to maintain a minimum bid price of $1.00 over the last 30 consecutive business days as required by Nasdaq Listing Rule 5550(a)(2). In accordance with Listing Rule 5810(c)(3)(C), the company is provided 180 calendar days, or until July 6, to regain compliance with the rule. “We are cognizant of the value to our shareholders of the listing of our shares on Nasdaq given the liquidity and pricing efficiency that the exchange provides. We pledge our best efforts towards improved performance which we believe will allow us to meet the continued listing standards,” stated Lim Chwee Poh, the Chief Executive Officer and an Executive Director.