Fenbo Holdings Faces Nasdaq Delisting Notice for Missed Annual Meeting “`
Hong Kong, January 28, 2025 – Fenbo Holdings Limited (NASDAQ: FEBO), an original equipment manufacturer (OEM) for Spectrum Brands, producing Remington-branded hair styling products, received a Nasdaq notification on January 16, 2025. This notification stated that Fenbo is not compliant with Nasdaq Listing Rule 5620(a) and 5810(c)(2)(G) due to its failure to hold a shareholder annual meeting within twelve months of its December 31, 2023 fiscal year end. The notification doesn’t immediately affect Fenbo’s Nasdaq listing. Fenbo has until March 3, 2025, to submit a compliance plan.
The Nasdaq notification stated that Fenbo’s failure to hold an annual shareholder meeting within twelve months of its fiscal year end violates Nasdaq listing rules. Fenbo has 45 days to submit a plan; if accepted, an 180-day extension (until June 30, 2025) may be granted to regain compliance.
Fenbo is preparing for its annual shareholder meeting and intends to submit a compliance plan. Nasdaq’s acceptance of the plan and subsequent compliance are not guaranteed. Failure to regain compliance, even with an extension, could result in delisting. If Nasdaq rejects the plan, Fenbo can appeal to a Hearing Panel. Delisting from Nasdaq is a possibility if compliance isn’t achieved.
Chairman and CEO Mr. Huang Hongwu emphasized the importance of Nasdaq listing for shareholder value and pledged to meet continued listing standards.
About Fenbo Holdings Limited
Operating in Hong Kong and Guangdong Province for over 30 years, Fenbo produces personal care electric appliances and toys for overseas markets. Since 2006, it has served as an OEM for Spectrum Brands, producing Remington-branded hair styling products for sale in Europe, the United States, and Latin America. For more information, please visit: .
Forward-Looking Statement
This release contains forward-looking statements concerning plans, objectives, strategies, future events or performance. Such statements are not guarantees and involve risks and uncertainties. Investors should not rely unduly on these statements. Additional information can be found in SEC filings available at . The Company disclaims any obligation to update these statements.
For more information, please contact:
Investor Relations
Fenbo Holdings Limited
+852 2343 3328