Founder Group Limited Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

Rhea-AI Summary

Founder Group Limited (NASDAQ:FGL) announced it received a Nasdaq notice dated November 6, 2025, for failing to meet the $1 minimum bid price under Nasdaq Listing Rule 5550(a)(2).

Nasdaq said the notice does not affect current listing or trading and gave a 180-calendar-day compliance period until May 5, 2026 to regain compliance. The company may seek an additional 180 days if it meets market-value and other initial-listing standards (except bid price) and files notice to cure, potentially by effecting a reverse stock split. Founder Group is evaluating options and intends to attempt timely compliance but said there is no assurance it will regain or maintain compliance.

Positive

• Listing and trading remain uninterrupted as of November 6, 2025
• Nasdaq granted a 180-day compliance period until May 5, 2026

Negative

• Class A shares closed below the required $1 minimum bid
• Risk of delisting if compliance is not regained within granted periods
• Possible need for a reverse stock split to cure the deficiency

Insights

Listing Compliance Specialist

Nasdaq issued a minimum bid-price deficiency; the company faces a delisting risk unless it regains a $1 bid by May 5, 2026.

Founder Group Limited received notice that its Class A Ordinary Shares failed to meet Nasdaq Rule 5550(a)(2) based on the 30‑business‑day closing bid test dated Nov 6, 2025. Nasdaq’s letter imposes a standard 180-calendar‑day cure period, preserving the listing and trading status while the company attempts to restore the share price.

The immediate business mechanism is simple: the company must restore the closing bid to at least $1 within the 180-day window, or seek eligibility for a second 180-day period by meeting the market‑value and other initial listing standards and announcing an intent to cure, potentially via a reverse stock split. Key dependencies include market demand for the shares, timing and market reception of any corporate actions, and satisfying Nasdaq’s technical listing thresholds; failure to meet them will trigger delisting proceedings.

Watch for concrete actions and dates: any announced reverse split, formal notice to Nasdaq to begin a second compliance period, or a restored closing bid above $1 before May 5, 2026. The most relevant near‑term horizon is the next 180 days, with a secondary 180-day window possible only if the company meets the specified initial listing standards and files written notice.

SELANGOR, Malaysia, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Founder Group Limited (“FGL” or the “Company”), today announced that on November 6, 2025, the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, based on the closing bid price of its Class A Ordinary Shares over the past 30 consecutive business days, the Company no longer meets the continued listing requirement of Nasdaq under Nasdaq Listing Rules 5550(a)(2) to maintain a minimum bid price of $1 per share.

The notification has no immediate effect on the listing or trading of the Company’s Class A Ordinary Shares on Nasdaq. Nasdaq has provided the Company with a 180 calendar days compliance period, or until May 5, 2026, in which to regain compliance with Nasdaq continued listing requirement. In the event that the Company does not regain compliance in the compliance period, the Company may be eligible for an additional 180 calendar days, should the Company meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and is able to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. However, if it appears that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that the Company’s securities will be subject to delisting.

The Company is currently evaluating options to regain compliance and intends to timely regain compliance with Nasdaq’s continued listing requirement. Although the Company will use all reasonable efforts to achieve compliance with Rule 5550(a)(2), there can be no assurance that the Company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq continued listing requirement.

About Founder Group Limited

Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities in Malaysia. The Company’s primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects. The Company’s mission is to provide customers with innovative solar installation services, promote eco-friendly resources and achieve carbon-neutrality.

For more information on the Company, please log on to https://www.founderenergy.com.my/.

Safe Harbor Statement

This press release contains forward-looking statements that reflect our current expectations and views of future events, including but not limited to, the Company’s proposed Offering. Known and unknown risks, uncertainties and other factors, including those listed under “Risk Factors” in the registration statement on Form F-1 related to the Offering, may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.

Contact Information:

Founder Group Limited Contact:
Eric Lee
Chief Executive Officer
Telephone +03-3358 5638
Email: ericlee@founderenergy.com.my

Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com

FAQ

What did Founder Group (FGL) receive from Nasdaq on November 6, 2025?

Founder Group received a notice that its Class A shares failed to meet the $1 minimum bid requirement under Nasdaq Rule 5550(a)(2).

How long does Founder Group (FGL) have to regain Nasdaq compliance?

Nasdaq provided a 180-calendar-day compliance period ending on May 5, 2026.

Will Founder Group (FGL) be delisted immediately after the Nasdaq notice?

No; the notice has no immediate effect on listing or trading while the company has the compliance period.

Can Founder Group (FGL) get more time if it still fails the bid-price rule?

Yes; the company may be eligible for an additional 180 days if it meets market-value and other initial listing standards and files notice to cure.

What actions did Founder Group (FGL) mention to regain compliance?

The company said it is evaluating options and noted a reverse stock split could be used if necessary.

Does Founder Group (FGL) guarantee it will regain Nasdaq compliance?

No; the company stated there is no assurance it will be able to regain or maintain compliance with Nasdaq rules.