SKK HOLDINGS LIMITED ANNOUNCES RECEIPT OF NASDAQ NOTIFICATION LETTER REGARDING MINIMUM PRICE DEFICIENCY
Rhea-AI Summary
SKK Holdings (Nasdaq: SKK), a Singapore-based civil engineering service provider, has received a notification from Nasdaq on April 14, 2025, regarding non-compliance with the minimum bid price requirement. The company's stock failed to maintain the required $1 per share minimum bid price between February 28 and April 11, 2025.
SKK has been granted an initial 180-day compliance period until October 13, 2025 to regain compliance. If unsuccessful, the company may be eligible for an additional 180-day period, provided it meets other Nasdaq Capital Market listing requirements and demonstrates intention to cure the deficiency, potentially through a reverse stock split.
Trading will continue uninterrupted under the symbol 'SKK' while the company evaluates options to regain compliance.
Positive
- 180-day grace period granted to regain compliance
- Possibility of additional 180-day extension if eligible
- Trading continues uninterrupted during compliance period
Negative
- Stock price has fallen below Nasdaq's minimum requirement of $1 per share
- Risk of potential delisting from Nasdaq if compliance is not achieved
- Possible need for reverse stock split which could impact share structure
Insights
SKK faces NASDAQ delisting risk after share price fell below $1; has 180 days to regain compliance with possible 180-day extension.
SKK Holdings has received a NASDAQ notification letter regarding non-compliance with the exchange's minimum bid price requirement of $1 per share. With the current share price at
The company has been granted a standard 180-day compliance period ending October 13, 2025, to rectify the situation. If unsuccessful, SKK may qualify for an additional 180-day extension if it meets all other NASDAQ Capital Market listing standards except the bid price requirement.
While immediate delisting isn't occurring and shares continue trading under the SKK symbol, this notification typically triggers strategic decisions. Companies in this position generally pursue one of three paths:
- Implementing a reverse stock split to artificially raise the share price (explicitly mentioned as an option in the announcement)
- Executing business initiatives that might organically increase investor interest and share value
- Preparing for eventual delisting and migration to OTC markets
The relatively small market capitalization limits SKK's strategic flexibility. Investors should note that while reverse splits mechanically solve the price requirement, they don't address fundamental business concerns that led to the price decline. The compliance period provides breathing room, but the company must demonstrate a credible path to sustainable compliance to avoid further market pressure.
SINGAPORE, April 16, 2025 (GLOBE NEWSWIRE) -- SKK Holdings Limited (“SKK” or the “Company”) (Nasdaq: SKK), a civil engineering service provider that specializes in subsurface utility works in Singapore, today announced that it received a notification letter from The Nasdaq Stock Market LLC ("Nasdaq") dated April 14, 2025, notifying the Company that based on the closing bid price of the Company for the period from February 28, 2025 to April 11, 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
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of one hundred eighty (180) calendar days, or until October 13, 2025, 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 Nasdaq notification letter does not result in the immediate delisting of the Company's ordinary shares, and the shares will continue to trade uninterrupted under the symbol “SKK.”
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 SKK Holdings Limited
SKK Holdings Limited is a civil engineering service provider that specializes in subsurface utility works in Singapore. We seek to plan, construct and maintain various public works and infrastructure projects that serve the society and the environment. We have over 10 years of experience in providing civil engineering services to our customers in Singapore in numerous public utility projects, including but not limited to power and telecommunication cable laying works, water pipeline works and sewer rehabilitation works.
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,” 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:
SKK Holdings Limited Contact:
Yee Yen Han
Chief Financial Officer
Telephone +65 6334 3831
skkcfo@skkworks.com.sg
Phaik Shya Koay
Financial Controller
Telephone +65 6334 3831
kelly.koay@skkworks.com.sg
FAQ
What is the deadline for SKK Holdings to meet Nasdaq's minimum bid price requirement?
Will SKK stock continue trading on Nasdaq during the compliance period?
What options does SKK have to regain Nasdaq compliance?
What happens if SKK fails to meet Nasdaq's minimum price requirement by the deadline?
