Welcome to our dedicated page for Premium Catering (Holdings) Ltd. news (Ticker: PC), a resource for investors and traders seeking the latest updates and insights on Premium Catering (Holdings) Ltd. stock.
Premium Catering (Holdings) Ltd delivers Halal-certified food services for corporate events, daily meals, and cultural functions across Singapore. This news hub provides investors and industry observers with verified updates about the company's market activities and operational developments.
Access timely announcements including financial results, regulatory compliance milestones, strategic partnerships, and menu innovations. Our curated collection ensures transparent tracking of the company initiatives that shape its position in Singapore's competitive catering sector.
Find official press releases covering food safety certifications, expansion projects, and leadership updates alongside analysis of operational trends. All content is maintained to reflect the company's commitment to quality and regulatory excellence.
Bookmark this page for convenient access to Premium Catering's latest developments. Check regularly for updates on how the company maintains its reputation through culinary diversity and strict adherence to Halal standards.
Premium Catering Holdings (NASDAQ: PC) has received two deficiency notices from Nasdaq. The first notice concerns non-compliance with the minimum market value of listed securities (MVLS) requirement of $35,000,000. The company has until June 9, 2025 to regain compliance by maintaining MVLS above $35,000,000 for at least 10 consecutive business days.
The second notice indicates failure to maintain a minimum bid price of $1.00 over 30 consecutive business days. The company has until June 9, 2025 to meet this requirement. Additionally, the company currently doesn't meet other listing requirements including maintaining stockholders' equity of $2.5 million and net income standards. While trading continues under symbol PC, failure to meet these requirements by the deadline could result in delisting.
Premium Catering Holdings reported financial results for fiscal year ended June 30, 2024, showing a revenue decline of 1.0% to S$5.16 million from S$5.21 million in 2023. The company's net loss significantly widened to S$1.47 million from S$0.44 million in the previous year. Gross profit margin decreased from 22.0% to 16.1% due to increased raw material costs. General and administrative expenses rose by 50.4% to S$2.28 million, primarily due to expansion into new premises and increased staff costs. The company's core business of budget prepared meals saw a S$0.2 million revenue decrease, partially offset by S$0.1 million from new food stall and buffet catering services.
Premium Catering (Holdings) (Nasdaq: PC) has successfully closed its initial public offering (IPO) of 2,000,000 ordinary shares at $4.75 per share, raising $9.5 million in gross proceeds. The company sold 1,650,000 shares, while selling shareholders offered 350,000 shares. PC received $7,837,500 in gross proceeds before deductions.
The funds will be used for IT system upgrades, production automation, expanding delivery fleet and asset management services, potential acquisitions, marketing, loan repayment, and working capital. Bancroft Capital, acted as the sole underwriter. The IPO was conducted under SEC registration (File Number: 333-279272), effective September 23, 2024.
Premium Catering (Holdings) (Nasdaq: PC) has announced the pricing of its initial public offering (IPO) of 2,000,000 ordinary shares at $4.75 per share, aiming to raise $9.5 million in gross proceeds. The company is offering 1,650,000 shares, while selling shareholders are offering 350,000 shares. Trading is set to begin on the Nasdaq Capital Market on September 25, 2024, under the ticker symbol 'PC'. The offering is expected to close around September 26, 2024.
PC is a food caterer in Singapore, providing prepared meals to foreign workers, operating food stalls, and offering buffet catering services. Bancroft Capital, is acting as the sole underwriter for the IPO. A registration statement has been filed with the SEC and declared effective on September 23, 2024.
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