TJGC Group Receives Nasdaq Notice, Gets 180-Day Window to Restore $1 Bid
TJGC Group Limited received a Nasdaq notice after its closing bid price stayed below $1 for 30 straight business days. The company has 180 days to achieve a $1 closing bid for ten days or pursue an extra cure period via market value rules and a possible reverse split.
1. Nasdaq Noncompliance Notification
On March 26, Nasdaq notified TJGC Group Limited that its closing bid price had fallen below the $1 minimum for 30 consecutive business days, triggering a noncompliance notice under Listing Rule 5550(a)(2). Trading of the shares will continue uninterrupted during the compliance review.
2. 180-Day Compliance Period
TJGC has a 180-calendar-day period to restore its closing bid to at least $1 for ten consecutive business days. If this condition is met, Nasdaq will issue written confirmation of compliance and close the matter.
3. Additional Cure Period and Reverse Split Option
If TJGC does not regain compliance in the initial period, it may seek an additional 180-day extension by meeting market value of publicly held shares and all other initial listing standards except the bid price. The company must notify Nasdaq of its intent to implement a reverse stock split if necessary to cure the deficiency.