Founder Group Limited Receives NASDAQ Notification Regarding Minimum Publicly Held Shares Deficiency

Founder Group Limited (Nasdaq: FGL) received a Nasdaq notice on Feb 17, 2026 that it no longer meets the minimum 500,000 publicly held shares requirement under Nasdaq Listing Rule 5550(a)(4).

Rhea-AI Summary

Founder Group Limited (Nasdaq: FGL) received a Nasdaq notice on Feb 17, 2026 that it no longer meets the minimum 500,000 publicly held shares requirement under Nasdaq Listing Rule 5550(a)(4).

The notification does not affect current listing or trading. The company has until April 3, 2026 to file a compliance plan and intends to submit a plan within the required timeframe.

Positive

• Listing and trading continue with no immediate effect
• Company has a clear cure deadline: April 3, 2026

Negative

• Noncompliance with Nasdaq Rule 5550(a)(4): 500,000 publicly held shares
• Risk of delisting if a compliant plan is not accepted by April 3, 2026

Argus Feb 23 session

-15.87% close to close Open Argus

Details

News Market Reaction – FGL

On Feb 23, the first trading day after this news, FGL closed 15.87% below the previous close.

Data tracked by StockTitan Argus for the Feb 23 session.

Key Figures

Minimum public float: 500,000 publicly held shares Nasdaq notice date: February 17, 2026 Compliance plan deadline: April 3, 2026

Minimum public float

500,000 publicly held shares

Nasdaq Listing Rule 5550(a)(4) requirement

Nasdaq notice date

February 17, 2026

Date of Nasdaq deficiency notification letter

Compliance plan deadline

April 3, 2026

Deadline to submit plan to regain Nasdaq compliance

Historical Context

5 past events · Latest: Feb 06

5 events

1. Feb 06

   Share combination

   24h Move

   -27.5%

   100-for-1 share combination to address prior Nasdaq bid-price deficiency.

2. Nov 12

   Nasdaq notice

   24h Move

   -2.9%

   Nasdaq notification for failure to meet $1 minimum bid price requirement.

3. Sep 26

   Large project deal

   24h Move

   -35.5%

   Announcement of RM1.16 billion 310 MWp solar-plus-storage project in Sarawak.

4. Sep 24

   EPCC pipeline

   24h Move

   -20.6%

   Positioning to benefit from up to RM17.4 billion EPCC contract value through 2028.

5. Sep 10

   Solar contract win

   24h Move

   +0.0%

   Securing US$2.36 million EPC contract for a 30MW large-scale solar plant.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

publicly held shares, nasdaq capital market, listing qualifications department

3 terms

publicly held shares financial

"it no longer meets the minimum 500,000 publicly held shares requirement"

Shares that are publicly held are portions of a company that any investor can buy or sell on public markets, like slices of a pie owned by many people rather than a few insiders. They matter because they determine how easy it is to trade the stock, influence company control through voting and can affect price swings and dividend payments as supply and demand change in the market.

nasdaq capital market regulatory

"requirement under Nasdaq Listing Rule 5550(a)(4) for the Nasdaq Capital Market"

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

listing qualifications department regulatory

"received a letter from the Listing Qualifications Department of Nasdaq Stock Market LLC"

A listing qualifications department is the part of a stock exchange that checks whether a company meets the exchange’s rules for being listed and staying listed. Think of it as a gatekeeper or building inspector: it reviews financial statements, disclosure practices and corporate governance, flags problems and can require fixes or remove a company’s shares. Investors care because its decisions affect whether a stock remains tradable and how much trust to place in a company’s reporting.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SELANGOR, Malaysia, Feb. 20, 2026 (GLOBE NEWSWIRE) -- Founder Group Limited (Nasdaq: FGL) (“FGL” or the “Company”), announced today that on February 17, 2026, the Company received a letter from the Listing Qualifications Department of Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that since it no longer meets the minimum 500,000 publicly held shares requirement under Nasdaq Listing Rule 5550(a)(4) for the Nasdaq Capital Market, it no longer complies with the Listing Rules for continued listing.

The notification has no immediate effect on the listing or trading of the Company’s Class A ordinary shares.

The Company has until April 3, 2026, to provide Nasdaq’s staff with a specific plan to achieve and sustain compliance with all The Nasdaq Capital Market listing requirements, including the time frame for completion of such plan. The Company intends to submit such plan within the required timeframe.

About FGL

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. Known and unknown risks, uncertainties and other factors, including those listed under “Risk Factors” in the Company’s filings with the U.S. Securities and Exchange Commission, 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

For media queries, please contact:

Founder Group Limited
info@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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Founder Group Limited (FGL) receive from Nasdaq on Feb 17, 2026?

They received a notice of noncompliance with the minimum publicly held shares requirement. According to the company, Nasdaq said FGL no longer meets the 500,000 publicly held shares threshold under Listing Rule 5550(a)(4).

Does the Nasdaq notice affect FGL's trading or listing immediately?

No, the notice has no immediate effect on listing or trading. According to the company, the notification is procedural and trading of Class A ordinary shares continues while FGL prepares a compliance plan.

What deadline does FGL have to regain Nasdaq compliance?

FGL has until April 3, 2026 to provide a specific compliance plan to Nasdaq. According to the company, the plan must show how it will achieve and sustain compliance and include timing for completion.

What must FGL include in the plan to Nasdaq to address the deficiency?

The plan must specify steps and a timeframe to achieve and sustain Nasdaq listing requirements. According to the company, the submission should demonstrate how FGL will meet the 500,000 publicly held shares requirement.

What happens if FGL does not submit an acceptable plan by April 3, 2026?

If an acceptable plan is not provided, Nasdaq could begin delisting proceedings. According to the company, failure to cure the deficiency may lead to further Listing Qualifications actions by Nasdaq.