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) Limited (Nasdaq: PC) generates company news that reflects both its catering operations in Singapore and its activities as a publicly traded company. As a certified Halal food caterer specializing in Indian, Bangladesh and Chinese cuisine, Premium Catering primarily supplies budget prepared meals to foreign construction workers, operates food stalls and provides buffet catering services for private, corporate and community events.
News about PC often covers operational and financial updates. The company has released results for its fiscal year and for six-month periods, detailing revenue from supplying prepared meals, operating food stalls and offering buffet catering services, as well as discussing cost of revenue, gross profit and general and administrative expenses. These announcements provide insight into how factors such as raw material prices, staff costs and operating leases affect its catering business.
As a Nasdaq-listed issuer, Premium Catering also publishes news on capital markets and regulatory developments. This includes announcements of its initial public offering and listing on the Nasdaq Capital Market, the authorization of a share repurchase program, and corporate actions such as a reverse stock split aimed at facilitating compliance with Nasdaq’s minimum bid price requirements. The company has also reported on Nasdaq deficiency notices related to market value and bid price, and subsequent confirmation that it regained compliance with the bid price requirement.
Other news items may address governance and regulatory matters, such as changes in senior management, trading suspension orders issued by the U.S. Securities and Exchange Commission and the company’s stated intention to cooperate with regulators while maintaining normal business operations. Investors and observers who follow PC news can use this page to review a continuous feed of such updates and to monitor how the company’s catering operations and listed-company status evolve over time.
Premium Catering (Nasdaq: PC) has announced details of its previously disclosed 1:9 reverse stock split of Class A Ordinary Shares. The reverse split will take effect on July 22, 2025, with a record date of July 21, 2025. Following the implementation, the company's outstanding Class A Ordinary Shares will be reduced from 18,652,750 to 2,072,528 shares.
The stock will continue trading under the same ticker symbol "PC" on the Nasdaq Capital Market after the consolidation takes effect.
Premium Catering (Nasdaq: PC) announced shareholders approved a reverse stock split at an Extraordinary General Meeting, with the Board authorizing a 1:9 ratio. The consolidation will be effective for shareholders of record on July 21, 2025, with trading on the adjusted basis beginning July 22, 2025.
The primary purpose of this corporate action is to maintain compliance with Nasdaq's minimum bid requirement of $1.00 per share to continue listing on the Nasdaq Capital Market. The company will maintain its existing ticker symbol "PC" post-split.
Premium Catering (Holdings) Limited (NASDAQ: PC) has announced a $1.0 million share repurchase program for its Ordinary Shares. The program, authorized by the Board of Directors, allows the company to repurchase shares through various means including open market purchases, block trades, and privately negotiated transactions.
The repurchases will comply with federal securities laws and Rule 10b-18 requirements. The program has no time limit and can be modified or suspended at any time. The company plans to fund the buyback using existing cash reserves and future cash flows.
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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