SKK Holdings Secures Extension for Compliance with Nasdaq
SKK Holdings Secures Extension for Nasdaq Compliance
Recently, SKK Holdings Limited, operating in civil engineering services focusing on subsurface utility works, made headlines by receiving an extension from Nasdaq. The Company, under the ticker symbol SKK, has been working diligently to meet the minimum bid price requirement of $1 per share as mandated by Nasdaq's Listing Rules 5550(a)(2).
Understanding the Compliance Notification
Earlier, on April 14, the Company was notified that it had fallen short of the required bid price based on its performance from February 28 to April 11. As a result, SKK was granted a compliance period of 180 days to rectify this situation. Unfortunately, by the end of this period, on October 13, the Company was unable to achieve compliance.
Important News from Nasdaq
On October 14, SKK Holdings received positive news about its compliance status. Nasdaq granted the Company an additional 180-day extension until April 13, allowing it another opportunity to meet the necessary criteria. The shares of SKK will continue to be traded without interruption throughout this extension.
Strategizing for Compliance
SKK Holdings is currently strategizing various options to regain compliance with Nasdaq's requirements. The Company is committed to using all reasonable means to achieve the necessary compliance and intends to act swiftly within this new timeframe. SKK understands the importance of adhering to the rules to maintain its standing in the market and continues to evaluate the best paths forward.
The Company’s Commitment to Public Works
With over a decade's experience, SKK Holdings Limited has become a key player in Singapore's civil engineering landscape. The Company specializes in projects that include power cable laying, telecommunications infrastructure, water pipelines, and sewer rehabilitation works. Their focus extends beyond profits, ensuring they contribute positively to the infrastructure and well-being of society.
About SKK Holdings Limited
Founded on a strong foundation of engineering excellence, SKK Holdings Limited has consistently provided high-quality civil engineering services. The Company’s projects not only address infrastructural needs but also serve to enrich the community, demonstrating a commitment to quality and service.
Frequently Asked Questions
What extension did SKK Holdings receive from Nasdaq?
SKK Holdings was granted an additional 180-day extension to regain compliance with the minimum bid price requirement.
What is the current status of SKK’s stock?
The shares of SKK are trading normally under the ticker symbol SKK during the compliance extension period.
How long does SKK Holdings have to regain compliance?
The Company has until April 13 to meet the Nasdaq compliance requirements.
What steps is SKK taking to ensure compliance?
SKK is evaluating various strategies to meet Nasdaq's listing requirements while ensuring operational success.
What are SKK’s main services?
SKK Holdings specializes in subsurface utility works, including civil engineering services for public works and infrastructure projects.
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