Two More Firms Receive Nasdaq Deficiency Notices

- Founder Group Limited has until April 3, 2026, to submit a plan to Nasdaq detailing how it will regain compliance with the minimum of 500,000 publicly held shares. The notification of non-compliance does not have an immediate effect on the stock's listing or trading. - For continued listing on the Nasdaq Capital Market, one of the requirements is to maintain a minimum of 500,000 publicly held shares with a market value of at least $1 million. - NaaS Technology has been notified of its failure to meet the minimum market value of listed securities, which is $35 million for the Nasdaq Capital Market. The company has a 180-day period, until August 17, 2026, to regain compliance by maintaining a market value of $35 million or more for at least ten consecutive business days. - This is not the first time NaaS Technology has faced this issue; it previously received a similar notice in June 2025 and regained compliance in December 2025. The current notice also mentioned that the company is not meeting the minimum requirements for stockholders' equity ($2.5 million) and net income ($500,000). - The stock price of Founder Group Limited has seen a significant decrease of 93.29% over the last year. Similarly, NaaS Technology's stock has underperformed the US market, which saw a return of 11.4% over the past year. - If a company fails to regain compliance within the specified period, Nasdaq will issue a delisting determination, which the company can then appeal to a hearings panel. - Nasdaq has recently been tightening its listing standards, including increasing the minimum market value of unrestricted publicly held shares for new listings and proposing a new minimum market value of listed securities for continued listing. - For companies with a closing bid price of $0.10 or less for ten consecutive days, Nasdaq has implemented accelerated delisting procedures without a grace period.