Noticias y eventos de J-Long Group Ltd (JL)JLJ-Long Group Ltd

J-Long Group to effect 1-for-10 share consolidation

J-Long Group will effect a share consolidation of its Ordinary Shares at a ratio of 1-for-10, effective as of 11:59 pm on December 3, 2024, in order to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq's Marketplace Rules 5550(a)(2) and Rule 5450(a)(1). The Company's Ordinary Shares are expected to begin trading on a Reverse Stock Split adjusted basis on Nasdaq as of the open of trading on December 4, 2024, under the existing ticker symbol "JL." The Company's member previously approved the reverse stock split and granted the Company's board of directors the authority to determine the final reverse stock split ratio and when to proceed with the reverse stock split at a Special Meeting of Stockholders held on November 18, 2024. The Company will file an Amendment to its Memorandum and Articles of Association to effect the share consolidation/reverse stock split at the ratio of 1-for-10 as of the Effective Time. The CUSIP number for the Company's Ordinary Shares will change following the reverse stock split.

J-Long Group announces receipt of NASDAQ determination letter

J-Long Group announced receipt of a letter from the Listing Qualifications Department of The Nasdaq Stock Market. The Determination Letter indicated that, as previously notified by Nasdaq on May 13, 2024, the bid price of the Company's listed security had closed at less than $1 per share over the previous 30 consecutive business days and, as a result, did not comply with Listing Rule 5550(a)(2). In accordance with the Rule, the Company was provided 180 calendar days, or until November 11, 2024, to regain compliance with the Rule. The Staff determined that the Company's Ordinary Shares would be scheduled for delisting from The Nasdaq Global Market and would be suspended at the open of business on November 25, 2024. The Determination Letter further informed the Company that it had until 4:00 p.m. Eastern Time on November 25, 2024, to appeal the Staff's Delisting Determination to a Hearings Panel. At this time, the Company is considering effecting a reverse stock split to regain compliance. The Company's Ordinary Shares will continue to trade on The Nasdaq Global Market following the submission of the hearing request until a final determination has been made by Nasdaq.