Notification of Non-Compliance with Nasdaq Requirements for Lead Real Estate Co., Ltd
TOKYO — Lead Real Estate Co., Ltd. (Nasdaq: LRE), a prominent Japanese developer specializing in luxury residential properties such as single-family homes and condominiums, has announced that it has received a written notification (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”). This Notice informs the Company that it is currently not in compliance with the minimum market value of publicly held shares ("MVPHS") requirement as outlined in the Nasdaq Listing Rules necessary for maintaining its listing on the Nasdaq Global Market.
According to Nasdaq Listing Rule 5450(b)(1)(C), all listed securities must uphold a minimum MVPHS of US$5,000,000. Unfortunately, the Company’s MVPHS has fallen below this threshold based on evaluations conducted between June 25 and August 9, 2024.
It’s important to note that this Notice does not affect the Company’s current listing status on the Nasdaq Global Market. As per Nasdaq Listing Rule 5810(c)(3)(D), the Company has a period of 180 calendar days to rectify this situation. To regain compliance, the MVPHS must exceed $5,000,000 for a minimum of 10 consecutive business days.
Should the Company be unable to restore compliance, it has the option to appeal the delisting decision. Alternatively, transferring its securities to the Nasdaq Capital Market may also be considered.
Despite the Notice, the Company’s business operations remain unaffected. Lead Real Estate Co., Ltd. is dedicated to closely monitoring its MVPHS and will actively seek ways to comply with the Nasdaq Listing Rules.
About Lead Real Estate Co., Ltd
Lead Real Estate Co., Ltd is engaged in developing luxury residential properties across Japan and also manages hotels and leases apartment units in Tokyo and Dallas, Texas. The Company is committed to providing stylish and secure living spaces while continuously enhancing its operations. It strives to leverage its strong market position to create a global platform accessible to both prime Japanese and international condominiums.
For further details, 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.