Aesthetic Medical International Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency
08 Septembre 2023 - 11:00PM
Aesthetic Medical International Holdings Group Limited (Nasdaq:
AIH) (the “Company” or “AIH”), a leading provider of aesthetic
medical services in China, announced that it has received a
notification letter (the “Notification Letter”) from the Nasdaq
Stock Market LLC (the “Nasdaq”) dated September 6, 2023, notifying
the Company that it is not in compliance with the minimum bid price
requirement as set forth under Nasdaq Listing Rule 5550(a)(2) for
continued listing on the Nasdaq. This press release is issued
pursuant to Nasdaq Listing Rule 5810(b), which requires prompt
disclosure upon the receipt of a deficiency notification.
Nasdaq Listing Rule 5550(a)(2) requires listed
securities to maintain a minimum bid price of US$1.00 per share,
and Listing Rule 5810(c)(3)(A) provides that a failure to meet the
minimum bid price requirement exists if the deficiency continues
for a period of 30 consecutive business days. Based on the closing
bid price of the Company’s ordinary shares for the 31 consecutive
business days from July 24, 2023 to September 5, 2023, the Company
no longer meets the minimum bid price requirement.
In accordance with the Nasdaq Listing Rule
5810(c)(3)(A), the Company has been provided 180 calendar days, or
until March 4, 2024, to regain compliance with Nasdaq Listing Rule
5550(a)(2). To regain compliance, the Company’s ordinary shares
must have a closing bid price of at least US$1.00 for a minimum of
10 consecutive business days. In the event that the Company does
not regain compliance by March 4, 2024, the Company may be eligible
for additional time to regain compliance or may face delisting.
The receipt of the Notification Letter has no
immediate effect on the Company’s business operations or the
listing of the Company’s ordinary shares, which will continue to
trade uninterrupted on the Nasdaq under the ticker “AIH”. To
address this issue, the Company intends to continuously monitor its
closing bid price and is in the process of considering various
measures to improve its financial position and results of
operations, which the Company expects to countervail the short-term
adverse effects on its trading price and cure the deficiency in due
time.
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 are spread across major cities in
mainland China, with a major focus on 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, 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.cnWebsite: https://ir.aihgroup.net
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