JBDI Holdings Announces Receipt of Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
SINGAPORE, Jan. 14, 2026 (GLOBE NEWSWIRE) -- JBDI Holdings Limited ("JBDI" or the "Company") (NASDAQ:JBDI), today announced that it has received a written notification dated January 7, 2026 from the Listing Qualifications Department of The Nasdaq Stock Market LLC (the "Nasdaq Notification"). The Notification stated that the Company's ordinary shares failed to maintain a minimum bid price of $1.00 over the last 30 consecutive business days as required by Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). Receipt of the Nasdaq Notification does not result in the immediate delisting of the Company's ordinary shares and has no immediate effect on the listing or the trading of the Company's ordinary shares on the Nasdaq Capital Market under the symbol "JBDI".
In accordance with Listing Rule 5810(c)(3)(C), the Company is provided 180 calendar days, or until July 6, 2026 to regain compliance with the Rule
The Determination Letter stated:
"If at any time during this compliance period, the Company's security is at least $1 for a minimum of ten consecutive business days, [the staff] will provide the Company written confirmation of compliance and the matter will be closed.."
The Nadsaq Notification further provides that in the event the Company does not regain compliance with the Rule prior to the expiration of the compliance period of July 6, 2026, it may be eligible for additional time. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effective a reverse stock split, if necessary. If the Company meets these requirements, [the staff] will inform the Company that it has been granted an additional 180 calendar days. However, if it appears to [the staff] that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, [the staff] will provide notice that its securities will be subject to delisting.
"We are cognizant of the value to our shareholders of the listing of our shares on Nasdaq given the liquidity and pricing efficiency that the exchange provides. We pledge our best efforts towards improved performance which we believe will allow us to meet the continued listing standards," stated Mr. Lim Chwee Poh, the Chief Executive Officer and an Executive Director.
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, including those listed under "Risk 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]
