Powell Max (PMAX) announced that it received a notification from Nasdaq stating that, due to the resignation of Lee Chern Koay from the company’s board of directors and audit committee effective December 31, 2025, the company no longer meets certain Nasdaq corporate governance requirements, specifically the independent director and audit committee composition rules under Nasdaq Listing Rule 5605 and related provisions, which require an audit committee composed of at least three independent directors.
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