Treasure Global Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Treasure Global (NASDAQ: TGL) announced on Oct 24, 2025 that its Board approved inducement equity awards under Nasdaq Listing Rule 5635(c)(4). The Board approved the grants on Oct 22, 2025 to two new hires, Boon Souw Fung and Tan Ee Wei, as material inducements to join and remain employed.
Each grantee will receive an inducement award with a total grant value of USD 60,000, vesting on Oct 1, 2025, subject to continuous employment for 24 months from the Oct 1, 2025 commencement date. Awards will be settled in common stock per the Inducement Award Agreements approved by the Compensation Committee. The announcement was issued to comply with Nasdaq disclosure requirements.
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News Market Reaction 14 Alerts
On the day this news was published, TGL declined 6.65%, reflecting a notable negative market reaction. Argus tracked a peak move of +35.4% during that session. Argus tracked a trough of -9.3% from its starting point during tracking. Our momentum scanner triggered 14 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $468K from the company's valuation, bringing the market cap to $7M at that time. Trading volume was very high at 3.4x the daily average, suggesting heavy selling pressure.
Data tracked by StockTitan Argus on the day of publication.
KUALA LUMPUR, Malaysia, Oct. 24, 2025 (GLOBE NEWSWIRE) -- Treasure Global Inc. (NASDAQ: TGL) (“Treasure Global” or the “Company”), a Southeast Asia–anchored technology company, today announced that its Board of Directors has approved the grant of inducement equity awards to Boon Souw Fung and Tan Ee Wei (collectively, the “Grantees”), pursuant to Nasdaq Listing Rule 5635(c)(4).
The inducement awards, approved by the Board on October 22, 2025, are expected to be granted upon completion of customary documentation and were made as a material inducement to the Grantees to enter into and remain in employment with the Company. Each Grantee will receive an inducement equity award with a total grant value of USD 60,000, which will vest on October 1, 2025, subject to the Grantee’s continuous employment with TGL for a period of twenty-four (24) months from the commencement date of October 1, 2025.
The awards will be settled in shares of TGL’s common stock in accordance with the terms of the Inducement Award Agreements, approved by the Company’s Compensation Committee.
“These inducement awards reflect our ongoing commitment to recognizing and retaining exceptional talent whose leadership is vital to our strategic growth,” said Carlson Thow, Chief Executive Officer of Treasure Global Inc. “We continue to build a team that shares our vision of driving long-term value for both our customers and shareholders.”
The Company is issuing this announcement in compliance with Nasdaq Listing Rule 5635(c)(4), which requires public disclosure of equity awards granted as a material inducement to employment.
About Treasure Global
Treasure Global is a Malaysia-based technology solutions provider specializing in innovative platforms that drive digital transformation in retail and services. The Company’s flagship product is the ZCITY Super App, which integrates e-payment solutions with customer loyalty rewards to create a seamless online-to-offline user experience. As of March 2025, ZCITY has attracted over 2.7 million registered users, positioning Treasure Global as a key player in Malaysia’s digital economy. Treasure Global continuously leverages cutting-edge technologies, including artificial intelligence and data analytics, to enhance its platform’s capabilities across e-commerce, fintech, and other verticals.
Visit treasureglobal.org for more information.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect the Company’s current expectations, assumptions, and projections about future events and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements typically include terminology such as “anticipates,” “believes,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” or similar expressions.
Factors that could cause actual results to differ materially include, without limitation, the Company’s ability to expand its e-commerce platform and F&B distribution business, customer acceptance of new products and services, changes in economic conditions affecting its operations, the outcome of partnership discussions, the impact of global health crises, supply chain disruptions, competition, and regulatory risks related to data privacy and security. Additional risks include volatility in digital asset markets, potential vulnerabilities in custodial security, and evolving global and domestic regulatory frameworks applicable to blockchain technologies. These risks, along with other factors, are discussed in more detail in the Company’s filings with the U.S. Securities and Exchange Commission.
The forward-looking statements in this press release speak only as of the date hereof. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
CONTACT
Investor and Media Relations
Treasure Global Inc.
ir_us@treasureglobal.org
FAQ
What did Treasure Global (TGL) announce on Oct 24, 2025 under Nasdaq Rule 5635(c)(4)?
How much is each inducement equity award for TGL grantees Boon Souw Fung and Tan Ee Wei?
When do the TGL inducement awards vest and what is the vesting condition?
Who approved the inducement award agreements for Treasure Global (TGL)?
Will the TGL inducement awards be settled in cash or shares and what is the settlement method?
