Globavend Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency
22 Agosto 2024 - 8:15AM
Globavend Holdings Limited (Nasdaq: GVH) (the
“
Company” or “
GVH”), an emerging
e-commerce logistics provider, disclosed that it had received a
notice (the “
Notice”) from the Nasdaq Stock Market
LLC (“
Nasdaq”) that GVH is not currently in
compliance with the $1.00 minimum bid price requirement for
continued listing of the Company’s ordinary shares (the
“
Ordinary Shares”) on the Nasdaq Capital Market,
as set forth in Nasdaq Listing Rules (the “
Minimum Bid
Price Requirement”). The Notice indicated that the Company
has 180 days, or until February 12, 2025 (the “
Compliance
Deadline”), to regain compliance with the Minimum Bid
Price Requirement by having the closing bid price of the Ordinary
Shares meet or exceed $1.00 per Ordinary Share for at least ten
consecutive business days.
The Notice has no immediate effect on the
listing of the Company’s Ordinary Shares, which continue to trade
on The Nasdaq Capital Market under the symbol “GVH.” The Company
intends to monitor the closing bid price of its Ordinary Shares and
may, if appropriate, consider implementing available options to
regain compliance with the Minimum Bid Price Requirement, including
a reverse stock split (i.e., a share consolidation).
About Globavend Holdings
Limited
Globavend Holdings Limited, an emerging
e-commerce logistics provider, offers end-to-end logistics
solutions in Hong Kong, Australia, and New Zealand. The Company
primarily serves enterprise customers, including e-commerce
merchants and operators of e-commerce platforms, facilitating
business-to-consumer (B2C) transactions. As an e-commerce logistics
provider, Globavend delivers integrated cross-border logistics
services from Hong Kong to Australia and New Zealand. It provides
customers with a comprehensive solution, encompassing pre-carriage
parcel drop-off, parcel consolidation, air-freight forwarding,
customs clearance, on-carriage parcel transportation, and final
delivery.
Forward-Looking Statements
This press release contains certain
forward-looking statements, including those regarding the Company’s
plans to regain compliance with the minimum bid requirement, the
potential to obtain any additional extensions from Nasdaq, the
Company’s ability to regain or maintain compliance with the Nasdaq
Listing Rules or continue its listing on Nasdaq. . Words such as
“will,” “future,” “expects,” “believes,” and “intends,” or similar
expressions, are intended to identify forward-looking statements.
These statements are subject to inherent uncertainties, many of
which are difficult to predict and generally beyond the Company’s
control.. These and other risk factors and uncertainties are
detailed in our annual report on Form 20-F. The Company undertakes
no obligation to publicly update or revise any forward-looking
statements, whether due to new information, future events, or
otherwise, except as required by law.
For investor and media inquiries, please
contact:
Company Info:
Globavend Holdings LimitedWai
Yiu Yau, Chairman and CEOproject@globavend.com 61 08 6141 3263
Globavend (NASDAQ:GVH)
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