YY Group Holding Informs of Nasdaq Minimum Bid Price Deficiency Notice

SINGAPORE, August 5, 2024 — YY Group Holding Limited YYGH, a corporate force in the field of hotel and hospitality staffing, as well as commercial cleaning and janitorial services, has conveyed its receipt of a notification of deficiency from Nasdaq. This notice is related to the company's failure to meet the minimum bid price requirement set forth by the stock exchange. The notification received is a procedural signal that YYGH has not maintained the Nasdaq's requirement of a minimum $1.00 bid price per share over a consecutive 30-business-day period.

Understanding the Nasdaq Notice

According to Nasdaq regulations, listed companies must uphold certain standards, including a minimum bid price of $1.00 per share. When a company's stock trades below this threshold for an extended period, Nasdaq issues a deficiency notice, as is the case with YY Group Holding. However, receipt of such a notification does not immediately affect the listing of YYGH shares on the Nasdaq Market.

Next Steps for YY Group Holding

YY Group now has a grace period of 180 calendar days to recover compliance. During this period, the company must have its common stock's closing bid price meet or exceed $1.00 per share for at least ten consecutive business days. Failure to achieve compliance within this grace period will lead to further consequences, which may include delisting procedures. YYGH has declared its intention to monitor its share price and employ all necessary measures to ensure compliance with the Nasdaq's minimum bid price rule.

Company Profile of YY Group Holding Limited

YYGH stands as a data and technology-driven entity that offers stellar commercial cleaning and janitorial services, alongside manpower outsourcing for the hospitality sector. Headquartered in Singapore, with additional operational presences in Kuala Lumpur, Malaysia, YY Group has been an advocate for modernizing and streamlining cleaning and staffing services through the application of technology and data-driven insights.

YYGH, Nasdaq, Compliance