Kandal M Venture Limited received a Nasdaq noncompliance notice, allowing 180 days to regain compliance with listing requirements.
Quiver AI Summary
Kandal M Venture Limited, a contract manufacturer of affordable luxury leather goods based in Cambodia, announced it has received a letter from Nasdaq notifying the company that it is noncompliant with continued listing rules due to its stock price falling below $1 per share for 30 consecutive business days. The company has a 180-day compliance period to regain compliance, which can occur if the stock price reaches $1 for ten consecutive days. Kandal is exploring options to address this issue, including potentially conducting a reverse stock split. The stock will continue trading under the symbol "FMFC" while Kandal works on regaining compliance with Nasdaq’s listing requirements.
Potential Positives
- Kandal M Venture Limited has been granted a 180-day compliance period to regain compliance with Nasdaq's listing requirements, providing the Company with a timeframe to address the issue.
- The notification from Nasdaq does not result in immediate delisting; the Company's Class A ordinary shares will continue to trade uninterrupted under the symbol "FMFC."
- Kandal is actively evaluating options to regain compliance, indicating a proactive approach to resolving the situation.
Potential Negatives
- Kandal M Venture Limited has received a letter of noncompliance from Nasdaq, indicating that it no longer meets the minimum bid price requirement to maintain its listing, which could lead to delisting if compliance is not regained.
- The press release provides no assurance that Kandal will successfully regain compliance with Nasdaq's continued listing requirements, adding uncertainty to its stock's future.
- The company may need to consider a reverse stock split to regain compliance, which can negatively impact shareholder value and sentiment.
FAQ
What is Kandal M Venture Limited's recent compliance issue with Nasdaq?
Kandal M Venture Limited received a letter from Nasdaq indicating it no longer meets the minimum bid price requirement of $1 per share.
How long does Kandal have to regain Nasdaq compliance?
The company has a compliance period of 180 calendar days to regain compliance with the $1 minimum bid price requirement.
What happens if Kandal does not regain compliance?
If Kandal does not regain compliance, it may request additional time or face potential delisting from Nasdaq.
Will Kandal's shares continue to trade during this period?
Yes, Kandal's class A ordinary shares will continue to trade uninterrupted under the symbol "FMFC" despite the notification.
What does Kandal manufacture?
Kandal M Venture Limited is a contract manufacturer of affordable luxury leather goods, primarily focusing on handbags and smaller leather items.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
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.
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.
In the event the Company does not regain compliance, Kandal may be eligible for additional time.
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.
If the Kandal meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar days. However, if it appears to Nasdaq that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that its securities will be subject to delisting.
The Nasdaq notification letter does not result in the immediate delisting of the Company's class A ordinary shares, and the said shares will continue to trade uninterrupted under the symbol "FMFC."
Kandal is currently evaluating options to regain compliance and intends to timely regain compliance with Nasdaq’s continued listing requirement. Although Kandal 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 Kandal M Venture Limited
Kandal M Venture Limited is a contract manufacturer of affordable luxury leather goods with its manufacturing operations in Cambodia. It primarily manufactures handbags, such as shoulder bags, crossbody bags, tote bags, backpacks, top-handle handbags, satchels, and other smaller leather goods, such as wallets.
For more information, please visit the Company’s website at www.kandalmv.com .
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the Securities and Exchange Commission before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.
Contacts:
Company:
Kandal M Venture Limited Investor Relations Contact:
Padachi Village, Prek Ho Commune, Takhmao Town, Kandal Province,
Kingdom of Cambodia
Email:
[email protected]
Telephone: +855 23425205
Investor Relations Contact:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: +1 (646) 893-5835 x2
Email:
[email protected]
Website:
www.skylineccg.com
