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BUSINESS • 04/08/2026 11:01 AM

Uni-Fuels Receives Nasdaq Minimum Bid Price Notice

KUALA LUMPUR, Aug 4 (Bernama) -- Uni-Fuels Holdings Limited (Uni-Fuels) announced it has received a notification letter from The Nasdaq Stock Market LLC (Nasdaq), stating that it is not in compliance with the minimum requirement for a closing bid price of US$1 per share under Nasdaq Listing Rule 5550(a)(2). (US$1=RM4.09)

The global provider of marine fuel solutions in a statement said the closing bid price of its class A ordinary shares remained below US$1 per share for 30 consecutive business days, from June 11 to July 24.

The company said the Nasdaq letter is only a notification of deficiency and does not result in the immediate delisting of its securities or affect the listing or trading of its class A ordinary shares on the Nasdaq Capital Market at this time.

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Under Nasdaq Listing Rule 5810(c)(3)(A), Uni-Fuels has 180 calendar days, or until Jan 25, 2027, to regain compliance. To do so, the closing bid price of its class A ordinary shares must be at least US$1 per share for a minimum of 10 consecutive business days before the compliance period expires.

If Uni-Fuels regains compliance within the period, Nasdaq will provide written confirmation and close the matter. Should the company opt for a reverse stock split, it must complete the exercise no later than 10 business days before Jan 25, 2027.

Uni-Fuels said that if it fails to regain compliance by Jan 25, 2027, it may qualify for an additional 180-day compliance period, provided it meets the continued listing requirement for the market value of publicly held shares and all other initial listing standards of the Nasdaq Capital Market, except for the minimum bid price requirement, and notifies Nasdaq of its intention to remedy the deficiency, if necessary, through a reverse stock split.

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If these requirements are met, Nasdaq will grant the additional compliance period. Otherwise, or if Nasdaq determines that the deficiency cannot be remedied, the company's securities may become subject to delisting.

Uni-Fuels is monitoring the closing bid price of its class A ordinary shares and evaluating available options to regain compliance, including implementing a reverse stock split if necessary.

-- BERNAMA

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