Santech Holdings Limited Notified of Deficiency by Nasdaq
Santech Holdings Limited, a technology company traded on the Nasdaq under the ticker symbol STEC, recently received a notice of non-compliance from Nasdaq. The notice was issued because Santech did not file its annual report on Form 20-F for the year ended June 30, 2024, in a timely manner, which is required by Nasdaq Listing Rule 5250(c)(1.
Despite this non-compliance, there is no immediate impact on the listing or trading of Santech’s American depositary shares on the Nasdaq. The company now has 60 days to submit a plan to regain compliance. If the plan is approved, Santech could have an additional 180 days, until May 14, 2024, to meet the requirements.
Santech Holdings Limited, historically known for serving high net-worth clients in China in financial services and health management, has shifted its focus to exploring new opportunities in technology. These opportunities include ventures in new retail, social e-commerce, and metaverse technologies. For more information, you can visit the company’s Investor Relations website at https://ir.santechholdings.com.
As per the U.S. Private Securities Litigation Reform Act of 1995, this press release contains forward-looking statements that involve risks and uncertainties. It’s worth noting that all information in the press release is as of the date of issuance, and the company does not commit to updating any forward-looking statements unless required by law.
For any investor-related inquiries, you can reach out to Santech Holdings Limited via email at ir@santechholdings.com. Media inquiries can be directed to ICR, LLC, by contacting Edmond Lococo at +86 138-1079-1408 or sending an email to SantechPR@icrinc.com.
