YY Group Holding Limited Receives Notification of Minimum Bid Price Deficiency from Nasdaq

SINGAPORE, August 5, 2024 – YY Group Holding Limited YYGH, a company specializing in hotel staffing and commercial cleaning operations through data and technology, disclosed today that it has obtained a notification of non-compliance in relation to the minimum bid price requirement from the Nasdaq Stock Market. This announcement has implications for the company's continued listing on the exchange.

Details of the Nasdaq Notification

YYGH has been formally notified by Nasdaq that its share price has been trading below the minimum required bid price of $1.00 per share over the last 30 consecutive business days. As per Nasdaq's Listing Rules, the company now has a grace period of 180 days to regain compliance. YYGH must have a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days during this period to meet Nasdaq's standard.

YYGH's Business Overview

The company operates primarily in Singapore and Malaysia, offering technological and data-driven solutions in the commercial cleaning and hotel staffing industry. With headquarters situated in Singapore and additional offices located in Kuala Lumpur, Malaysia, YYGH serves a substantial client base in the Asian region. The company's expertise in outsourcing manpower services has established its reputation in both markets.

Forward-Looking Statements

This notification does not immediately affect the YYGH listing on the Nasdaq Stock Market, and the company remains focused on its business strategies to improve shareholder value. YYGH leadership is evaluating a range of options to address the issue, with an emphasis on the operational and financial measures that would potentially improve its stock performance in the near term.

YYGH, Nasdaq, Compliance