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Powell Max Limited Receives Nasdaq Notice Regarding Continued Listing Compliance
HONG KONG, Feb. 11, 2026 (GLOBE NEWSWIRE) -- Powell Max Limited (Nasdaq: PMAX) (the “Company” or “Powell Max”), a financial communications services provider headquartered in Hong Kong, announced that on February 5, 2026 it received a notification from The Nasdaq Stock Market LLC (“Nasdaq”) stating that, due to the resignation of Ms. Lee Chern Koay from the Company’s board of directors and audit committee effective December 31, 2025, the Company no longer meets certain Nasdaq corporate governance
About this update from Powell Max Limited
[{"type":"text","content":"HONG KONG, Feb. 11, 2026 (GLOBE NEWSWIRE) -- Powell Max Limited (Nasdaq: PMAX) (the “Company” or “Powell Max”), a financial communications services provider headquartered in Hong Kong, announced that on February 5, 2026 it received a notification from The Nasdaq Stock Market LLC (“Nasdaq”) stating that, due to the resignation of Ms. Lee Chern Koay from the Company’s board of directors and audit committee effective December 31, 2025, the Company no longer meets certain Nasdaq corporate governance requirements, specifically the independent director and audit committee composition rules under Nasdaq Listing Rule 5605(c)(2) and related provisions, which require an audit committee composed of at least three independent directors.","length":734,"tagName":"p"},{"type":"text","content":"Nasdaq has provided the Company with a cure period under the applicable listing rules, granting the Company until the earlier of its next annual shareholders’ meeting or December 31, 2026 (and, if the next annual meeting occurs before June 29, 2026, then no later than June 29, 2026) to regain compliance by submitting to Nasdaq documentation, including biographies of any new directors, evidencing compliance.","length":410,"tagName":"p"},{"type":"text","content":"On January 30, 2026, the Company’s board of directors appointed four new independent directors and on February 6, 2026, the Company’s board of directors reconstituted the audit committee to consist of three independent directors, each of whom satisfies the independence requirements of Nasdaq Listing Rule 5605(a)(2) and the heightened independence and financial literacy requirements of Nasdaq Listing Rule 5605(c)(2). As a result, the Company believes it has regained compliance with the applicable Nasdaq corporate governance requirements. The Company has notified Nasdaq of the foregoing and intends to continue to monitor its compliance with all applicable listing standards.","length":680,"tagName":"p"},{"type":"text","content":"The notice has no immediate effect on the listing of the Company’s Class A ordinary shares, which will continue to trade on the Nasdaq Capital Market under the symbol “PMAX.” About Powell Max Limited","length":201,"tagName":"p"},{"type":"text","content":"Powell Max Limited is a financial communications services provider headquartered in Hong Kong. The Company engages in the p...