Business
Kandal M Venture Limited Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency
Cambodia, Dec. 29, 2025 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (“Kandal” or the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced it has received a letter of noncompliance from The Nasdaq Stock Market LLC ("Nasdaq"), dated December 22, 2025, notifying the Company that based on Kandal’s closing bid price for the last 30 consecutive business days, the Company no longer meets the continued listing r
About this update from Kandal M Venture Limited
[{"type":"image","alt":"Kandal M Venture Ltd","displaySize":"","headline":null,"caption":"Kandal M Venture Ltd","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":70,"url":"https://media.zenfs.com/en/globenewswire.com/b94e4168b2f5dacc3fbeec3b31ae3100"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/jDtUGVIxB8.TgT_z2KBPfA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTk4O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/b94e4168b2f5dacc3fbeec3b31ae3100","width":300,"height":70}},"lazy":false},{"type":"text","content":"Cambodia, Dec. 29, 2025 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (“Kandal” or the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced it has received a letter of noncompliance from The Nasdaq Stock Market LLC ("Nasdaq"), dated December 22, 2025, notifying the Company that based on Kandal’s closing bid price for the last 30 consecutive business days, 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 $1 per share.","length":619,"tagName":"p"},{"type":"text","content":"However, pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days in which to regain compliance. If at any time during this 180-day period the closing bid price of the Company’s security is at least $1 for a minimum of ten consecutive business days, Nasdaq will provide Kandal with written confirmation of compliance and this matter will be closed.","length":395,"tagName":"p"},{"type":"text","content":"In the event the Company does not regain compliance, Kandal may be eligible for additional time.","length":96,"tagName":"p"},{"type":"text","content":"To qualify, the Company will be required to 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 will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary.","length":410,"tagName":"p"},{"type":"text","content":"If the Kandal meets these requirements, Nasdaq will inform the Company that it has been granted a...