Magic Empire Global Limited Gains Extra Time for Nasdaq Compliance
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Magic Empire Global Limited Receives Nasdaq Notification
Magic Empire Global Limited (NASDAQ: MEGL) has been granted an additional 180 calendar days to meet Nasdaq's minimum bid price requirement. This notification was received on August 27, following the company’s compliance with all other continued listing requirements for market value of publicly held shares.
Compliance Period Extension Details
The extension allows the company until February 24 to regain compliance with the $1 per share requirement. The decision was made considering the company's assurance of adherence to other criteria necessary for maintaining its status on the Capital Market.
Company's Plans for Compliance
The management of Magic Empire Global Limited is actively exploring various strategies to ensure compliance with Nasdaq rules. One option may include a reverse stock split, should it become necessary to address the bid price deficiency.
Ongoing Evaluation of Options
The company has expressed its commitment to taking all reasonable actions to correct its bid price issue within the allowed timeframe. However, it has also cautioned that there is no guarantee of successful compliance.
About Magic Empire Global Limited
Magic Empire Global Limited operates as a financial services provider in Hong Kong, specializing in corporate finance advisory and underwriting services. The firm's services include IPO sponsorship, financial advisory, compliance advisory, underwriting, and corporate services.
Service Offerings
The company’s diverse offerings enhance its capability to meet various client needs, positioning it favorably within the competitive financial services industry. The expertise in corporate finance allows Magic Empire to guide businesses through intricate processes, ensuring strategic growth and compliance.
Contact Information
For further inquiries or information regarding its services, interested parties can reach out to:
Magic Empire Global Limited
Ms. Vivien Tai
Tel: +852 3577 8770
E-mail: meglir@giraffecap.com
Frequently Asked Questions
What is the significance of the Nasdaq compliance notification?
This notification indicates that Magic Empire Global Limited has been granted additional time to meet the minimum bid price requirement set by Nasdaq.
How long is the extension provided?
The company has received an extension of 180 calendar days to regain compliance, with a deadline of February 24.
What actions might the company take to regain compliance?
Magic Empire may consider implementing a reverse stock split among other strategies to meet the bid price requirement.
Is compliance guaranteed during the extension period?
While the company is committed to regaining compliance, there is no assurance that it will achieve the necessary requirements by the deadline.
What services does Magic Empire offer?
The company provides a range of financial services including IPO sponsorship, financial advisory, compliance advisory, and underwriting services.
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