Aesthetic Medical International Received NASDAQ Notice Regarding Non-Compliance with Minimum Stockholders’ Equity Requirement
06 Juin 2022 - 1:00PM
Aesthetic Medical International Holdings Group Limited (Nasdaq:
AIH) (the “
Company” or “
AIH”), a
leading provider of aesthetic medical services in China, today
announced that on June 2, 2022 it received a notice from the Nasdaq
Stock Market LLC (“
Nasdaq”) stating that as
reported in the Company’s annual report on Form 20-F for the year
ending December 31, 2021, the Company is no longer in compliance
with the $10 million minimum stockholders’ equity requirement for
continued listing on the Nasdaq Global Market under Nasdaq Listing
Rule 5450(b)(1)(A). This notification has no immediate effect on
the Company’s listing or on the trading of the Company’s ADSs.
As provided in the Nasdaq Listing Rules, the
Company has 45 calendar days to submit a plan to regain compliance
with Nasdaq’s continued listing requirements. If such plan is
accepted, which there can be no assurance, Nasdaq may grant the
Company up to 180 days from June 2, 2021 to evidence compliance. If
Nasdaq determines that the Company’s plan is not sufficient to
achieve and sustain compliance, it will provide written notice to
the Company that its securities will be subject to delisting. At
that time, the Company may appeal the delisting determination to a
Nasdaq Hearings Panel (“Panel”). The Company would
remain listed pending the Panel’s decision.
The Company intends to submit a plan to regain
compliance to Nasdaq on or before July 15, 2022. This announcement
is made in compliance with Nasdaq Listing Rule 5810(b), which
requires prompt disclosure of receipt of a delisting
notification.
About Aesthetic Medical International
Holdings Group Limited
AIH, known as “Peng’ai” in China, is a leading
provider of aesthetic medical services in China. AIH operates
through treatment centers that spread across major cities in
mainland China, with major focus in the Guangdong-Hong Kong-Macau
Greater Bay area and the Yangtze River Delta area. Leveraging over
20 years of clinical experience, AIH provides one-stop aesthetic
service offerings, including surgical aesthetic treatments,
non-surgical aesthetic treatments, and general medical services and
other aesthetic services. For more information regarding the
Company, please visit: https://ir.aihgroup.net/.
Cautionary Statements
This press release contains “forward-looking
statements.” These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will”, “expects”, “anticipates”, “aims”,
“future”, “intends”, “plans”, “believes”, “estimates”, “likely to”
and similar statements. Statements that are not historical facts,
including statements about the Company’s beliefs, plans and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. These risks
and uncertainties and others that relate to the Company’s business
and financial condition are detailed from time to time in the
Company’s SEC filings, and could cause the actual results to differ
materially from those contained in any forward-looking statement.
These forward-looking statements are made only as of the date
indicated, and the Company undertakes no obligation to update or
revise the information contained in any forward-looking statements,
except as required under applicable law.
Investor Relations Contacts
For investor and media inquiries, please
contact:Aesthetic Medical international Holdings Group
LimitedEmail: ir@pengai.com.cn
DLK Advisory LimitedTel: +852
2857 7101Email: ir@dlkadvisory.com
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