SINGAPORE, July 15, 2026 (GLOBE NEWSWIRE) -- JBDI Holdings Limited (Nasdaq: JBDI) today announced that it received a letter dated July 9, 2026 (the “Determination Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company had not regained compliance with Listing Rule 5550(a)(2) within the 180 calendar days previously provided by Nasdaq’s letter to the Company of January 7, 2026 (the “January 7 Letter”). The January 7 Letter had indicated that 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) (the “Rule”). In accordance with the Rule, the Company was provided 180 calendar days, or until July 6, 2026, to regain compliance with the Rule.
The Determination Letter stated that the Company had not regained compliance with Listing Rule 5550(a)(2) and is not eligible for a second 180-day period within which to regain compliance because it does not meet with the minimum stockholders’ equity initial listing requirement for The Nasdaq Capital Market.
The Determination Letter further stated:
“Accordingly, unless the Company requests an appeal of this determination by July 16, 2026 … the Company’s ordinary shares will be scheduled for delisting from The Nasdaq Capital Market and will be suspended at the opening of business on July 20, 2026 and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market.”
The Determination Letter further informed the Company that it has until 4:00 p.m. Eastern Time on July 16, 2026, to appeal the Staff’s Delisting Determination to a Hearings Panel and that a request for a hearing would stay the suspension of the Company’s ordinary shares from trading and the filing of the Form 25-NSE with the SEC.
The Company will not submit a request for a hearing due to its receipt on July 15, 2026 of the Notice of Compliance described below.
JBDI HOLDINGS ANNOUNCES COMPLIANCE WITH NASDAQ LISTING RULE
JBDI Holdings announced that it received notice (the “Notice of Compliance”) from Nasdaq on July 15, 2026 informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2), and that the Company was therefore in compliance with the Nasdaq Capital Market’s listing requirements. Accordingly, the Company’s Ordinary Shares will continue to be listed on The Nasdaq Capital Market under the symbol “JBDI” and Nasdaq considers the matter closed.
“We are pleased that the Company has regained compliance with the Bid Price Requirement because we recognize the value to our shareholders of the Nasdaq listing and intend to continue to meet the Bid Price Requirement,” stated Mr. Lim Chwee Poh, the Chief Executive Officer of JBDI Holdings Limited.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About JBDI Holdings Limited
JBDI Holdings Limited is a leading provider of environmentally friendly and efficient products and services, specializing in the revitalization, reconditioning, and recycling of drums and related containers in Singapore and across Southeast Asia. With nearly four decades of industry experience, JBDI Holdings has established a strong reputation for quality and reliability, offering a wide range of reconditioned steel and plastic drums, new containers, and ancillary services. Our mission is to help our customers achieve a zero environmental impact footprint while optimizing resource allocation and reducing costs. For more information, please visit http://jbdi.barrels.com.sg/
Safe Harbor Statement
This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties, and other factors may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue,” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy, and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.
Company Contact:
Zhaorong Liang
Tel: +65 6861 4150
Email: [email protected]