Linkers Industries Limited Announces Receipt of Nasdaq Minimum Bid Price Deficiency Letter
Rhea-AI Summary
Linkers Industries (Nasdaq: LNKS), a Malaysian manufacturer of wire/cable harnesses, has received a Nasdaq minimum bid price deficiency notice on March 10, 2025. The company's stock failed to maintain the required $1 minimum bid price between January 24 and March 7, 2025.
LNKS has been granted an initial 180-day compliance period until September 8, 2025 to regain compliance. If unsuccessful, the company may be eligible for an additional 180-day extension, provided it meets other Nasdaq Capital Market listing requirements and demonstrates intention to cure the deficiency, potentially through a reverse stock split.
The company, which serves global brand manufacturers and OEMs in home appliances, industrial products, and automotive industries across the Asia Pacific Region, is currently evaluating options to regain compliance, though success is not guaranteed.
Positive
- 180-day compliance period granted with possibility of additional 180-day extension
- Company actively evaluating compliance options
Negative
- Stock price fell below $1 minimum bid requirement
- Risk of potential Nasdaq delisting if compliance not achieved
- May need to implement reverse stock split, potentially affecting share structure
News Market Reaction 1 Alert
On the day this news was published, LNKS declined 2.24%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
New York, March 13, 2025 (GLOBE NEWSWIRE) -- Linkers Industries Limited (Nasdaq: LNKS) (the “Company”), a manufacturer and a supplier of wire/cable harnesses with operation in Malaysia, today announced receipt of Nasdaq Minimum Bid Price Deficiency Letter.
On March 10, 2025, Linkers Industries Limited. (the “Company”) received a letter from the Listing Qualifications staff of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that based on the closing bid price of the Company for the period from January 24, 2025 to March 7, 2025, 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
Nasdaq has provided the Company with an 180 calendar days compliance period, or until September 8, 2025, 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 Linkers Industries Limited
Linkers Industries Limited is a manufacturer and a supplier of wire/cable harnesses with manufacturing operations in Malaysia and have more than 20 years’ experience in the wire/cable harnesses industry. The Company offers customized wire harness for different applications and electrics designs. Our customers are generally global brand name manufacturers and original equipment manufacturers (“OEMs”) in the home appliances, industrial products and automotive industries that are mainly based in the Asia Pacific Region.
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, including the trading of its Ordinary Shares or the closing of the Offering. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. 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 SEC 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
Linkers Industries Limited Investor Relations Contact:
Lot A99, Jalan 2A-3, A101 & A102, Jalan 2A,
Kawasan Perusahaan MIEL Sungai Lalang,
08000 Sungai Petani, Kedah Darul Aman, Malaysia
Tel : +60 4 4417802
Email: linkers.ir@linkers-hk.com
FAQ
What is the deadline for LNKS to meet Nasdaq's minimum bid price requirement?
What happens if LNKS fails to meet the minimum bid price requirement by September 2025?
What options does LNKS have to regain Nasdaq compliance?
What is the minimum stock price LNKS needs to maintain for Nasdaq compliance?
