Kandal M Venture Limited Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency
Kandal M Venture Limited (Nasdaq: FMFC) announced it received a Nasdaq notification dated December 22, 2025 that its closing bid price for the last 30 consecutive business days fell below the $1 continued listing requirement under Nasdaq Rule 5550(a)(2).
Rhea-AI Summary
Kandal M Venture Limited (Nasdaq: FMFC) announced it received a Nasdaq notification dated December 22, 2025 that its closing bid price for the last 30 consecutive business days fell below the $1 continued listing requirement under Nasdaq Rule 5550(a)(2). The notice provides a 180-calendar-day compliance period under Rule 5810(c)(3)(A) to regain compliance by achieving a closing bid of at least $1 for ten consecutive business days.
If Kandal fails to regain compliance, it may be eligible for an additional 180-day period only if it meets Nasdaq’s market value and other initial listing standards and files written notice of its intent to cure, potentially by effecting a reverse stock split. Trading of the Company’s class A ordinary shares will continue uninterrupted under the symbol FMFC while the matter is pending. Kandal is evaluating options to regain compliance but gave no assurance it will succeed.
Positive
- 180-calendar-day initial compliance period under Rule 5810(c)(3)(A)
- Class A ordinary shares will continue trading uninterrupted under symbol FMFC
- Possible additional 180-day cure period if market-value and listing standards are met
Negative
- Closing bid price below $1 over the last 30 consecutive business days
- Company may need to effect a reverse stock split to regain compliance
- Risk of delisting if Nasdaq determines the Company cannot cure the deficiency
Details
News Market Reaction – FMFC
In the Dec 30 session, FMFC gained 1.48%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- Nasdaq minimum bid
- $1 per share
- Nasdaq Listing Rule 5550(a)(2) continued listing requirement
- Noncompliance period
- 30 consecutive business days
- Closing bid below $1 triggering Nasdaq deficiency notice
- Initial compliance window
- 180 calendar days
- Period to regain compliance with minimum bid rule
- Required bid compliance run
- 10 consecutive business days
- Minimum span with bid at or above $1 to cure deficiency
- Additional compliance window
- 180 calendar days
- Potential second period if company meets other Capital Market standards
Historical Context
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Update showing FY2026 customer orders reaching $17.2M, meeting expectations.
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Disclosure of $6.72M in Resort and Spring 2026 orders in line with plans.
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FY2025 revenue grew 23% to $17.19M despite margin pressure and lower net income.
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Underwriters fully exercised IPO over-allotment, lifting gross proceeds to $9.2M.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
Nasdaq Listing Rules 5550(a)(2) regulatory
minimum bid price financial
reverse stock split financial
Nasdaq Capital Market regulatory
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Cambodia, Dec. 29, 2025 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (“Kandal” or the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced it has received a letter of noncompliance from The Nasdaq Stock Market LLC ("Nasdaq"), dated December 22, 2025, notifying the Company that based on Kandal’s closing bid price for the last 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
However, pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days in which to regain compliance. If at any time during this 180-day period the closing bid price of the Company’s security is at least
In the event the Company does not regain compliance, Kandal may be eligible for additional time.
To qualify, the Company will be required to 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 will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary.
If the Kandal meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar days. However, if it appears to Nasdaq that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that its securities will be subject to delisting.
The Nasdaq notification letter does not result in the immediate delisting of the Company's class A ordinary shares, and the said shares will continue to trade uninterrupted under the symbol "FMFC."
Kandal is currently evaluating options to regain compliance and intends to timely regain compliance with Nasdaq’s continued listing requirement. Although Kandal 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 Kandal M Venture Limited
Kandal M Venture Limited is a contract manufacturer of affordable luxury leather goods with its manufacturing operations in Cambodia. It primarily manufactures handbags, such as shoulder bags, crossbody bags, tote bags, backpacks, top-handle handbags, satchels, and other smaller leather goods, such as wallets.
For more information, please visit the Company’s website at www.kandalmv.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the Securities and Exchange Commission before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.
Contacts:
Company:
Kandal M Venture Limited Investor Relations Contact:
Padachi Village, Prek Ho Commune, Takhmao Town, Kandal Province,
Kingdom of Cambodia
Email: enquiry@fmfco.com.kh
Telephone: +855 23425205
Investor Relations Contact:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: +1 (646) 893-5835 x2
Email: info@skylineccg.com
Website: www.skylineccg.com
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