Receives Notice Regarding Late Filing of Interim Financial Statements
SINGAPORE, June 06, 2025 — JBDI Holdings Limited (“JBDI” or the “Company”) (Nasdaq: JBDI) announced today that Nasdaq has notified the Company on June 3, 2025, that it has met the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1), thus satisfying the Nasdaq Capital Market’s listing requirements.
Nasdaq had previously informed the Company on December 12, 2024, that its ordinary shares did not maintain a minimum bid price of $1.00 for 30 consecutive business days, as required by Listing Rule 5450(a)(1). Nasdaq has since determined that the Company’s ordinary shares’ closing bid price was $1.00 or higher for eleven consecutive business days, from May 16 through June 2, 2025.
“We are pleased to have regained compliance with the Bid Price Requirement because we value our Nasdaq listing and are committed to maintaining it,” said Mr. Lim Chwee Poh, CEO of JBDI Holdings Limited.
The Company also announced that it received a notice of deficiency dated June 3, 2025, from Nasdaq’s Listing Qualifications Department, stating that it had not filed its interim balance sheet and income statement for the second quarter on Form 6-K, and is therefore not compliant with Listing Rule 5250(c)(2). The notice indicated that the Company has 60 calendar days to submit a plan to regain compliance. If Nasdaq approves the plan, it may grant an exception of up to 180 calendar days from the filing’s due date, or until December 2, 2025, to regain compliance.
On June 5, 2025, the Company filed its unaudited condensed consolidated financial statements for the six-month periods ended November 30, 2024 and 2023 with the Securities and Exchange Commission on Form 6-K. The Company intends to promptly inform Nasdaq of this filing and assert that it is now compliant with Nasdaq Listing Rule 5250(c)(2).
This press release does not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About JBDI Holdings Limited
JBDI Holdings Limited is a leading provider of environmentally conscious and efficient solutions, specializing in the revitalization, reconditioning, and recycling of drums and related containers in Singapore and Southeast Asia. With nearly four decades of industry experience, JBDI Holdings has built a strong reputation for quality and reliability, offering a diverse range of reconditioned steel and plastic drums, new containers, and related services. Our goal is to help customers achieve a zero environmental impact while optimizing resource allocation and lowering costs. For more information, please visit
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Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email:
Company Contact:
Zhaorong Liang
Tel: +65 6861 4150
Email:
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