Primech Acknowledges Receipt Of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency

The receipt of the Notice has no immediate effect on the Company's business operations or the listing of the Company's ordinary shares, which will continue to trade uninterrupted on the Nasdaq under the ticker "PMEC." Pursuant to the Notice, the Company has until November 11, 2024 to regain compliance with the minimum bid price requirement, during which time the Company's ordinary shares will continue to trade on the Nasdaq Capital Market. If at any time before November 11, 2024, the bid price of the Company's ordinary shares closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance to the Company. In the event that the Company does not regain compliance by November 11, 2024, the Company may be eligible for additional time to regain compliance or may face delisting.