Lead Real Estate Co., Ltd Receives Nasdaq Non-Compliance Notice
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Lead Real Estate Co., Ltd Receives Notification Regarding Non-Compliance of Nasdaq Global Market Minimum Market Value of Publicly Held Shares Requirement
TOKYO — Lead Real Estate Co., Ltd. (Nasdaq: LRE), a Japanese real estate developer of luxury residential properties, including single-family homes and condominiums, today announced that it received a written notification (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum market value of publicly held shares ("MVPHS") requirement set forth in the Nasdaq Listing Rules for continued listing on the Nasdaq Global Market.
Nasdaq Listing Rule 5450(b)(1)(C) requires listed securities on the Nasdaq to maintain a minimum MVPHS of US$5,000,000. The Company’s MVPHS no longer meets this requirement based on evaluation from June 25 to August 9, 2024.
The Notice does not impact the Company's current listing on the Nasdaq Global Market. According to Nasdaq Listing Rule 5810(c)(3)(D), the Company has 180 calendar days to regain compliance. To do so, the MVPHS must close above $5,000,000 for at least 10 consecutive business days.
If the Company fails to regain compliance, it may appeal the delisting determination. Alternatively, the Company may consider transferring its securities to the Nasdaq Capital Market.
The Company's business operations remain unaffected by the Notice. The Company is committed to monitoring its MVPHS and will explore options to regain compliance with the Nasdaq Listing Rules.
About Lead Real Estate Co., Ltd
Lead Real Estate Co., Ltd is a developer of luxury residential properties throughout Japan and also operates hotels and leases apartment units in Tokyo and Dallas, Texas. The Company’s mission is to provide stylish and safe living environments while continuously improving its operations. It aims to leverage its strong market position and create a global platform accessible to prime Japanese and overseas condominiums.
For more information, please visit the Company’s website at https://www.lead-real.co.jp/en/.
Contact Information:
For Media and Investor Relations
Daisuke Takahashi
Chief Financial Officer
Lead Real Estate Co., Ltd
d-takahashi@lead-real.co.jp
+81 3-5784-5127
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the America’s, 5th Floor
New York, NY 10036
Office: (646) 893-5835
Email: info@skylineccg.com
Frequently Asked Questions
What is the notification received by Lead Real Estate Co., Ltd?
Lead Real Estate Co., Ltd received a notice from Nasdaq indicating it is not in compliance with the minimum market value of publicly held shares requirement.
What does MVPHS stand for?
MVPHS stands for Minimum Market Value of Publicly Held Shares, which is a requirement for companies listed on the Nasdaq.
How long does Lead Real Estate Co., Ltd have to regain compliance?
The Company has 180 calendar days to regain compliance, specifically by closing above $5,000,000 for 10 consecutive business days.
What happens if the Company does not regain compliance?
If compliance is not regained, Nasdaq may issue a delisting notice, which the Company can appeal.
Are the Company's business operations affected by this notice?
No, the Company's operations remain unaffected by the Nasdaq notice and continue as usual.
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