J-long group limited announces share consolidation/reverse stock split to regain nasdaq compliance

Hong kong, nov. 22, 2024 (globe newswire) -- j-long group limited (nasdaq: jl), a hong kong based and established distributor of reflective and non-reflective garment trims including, among others, heat transfers, fabrics, woven labels and tapes, sewing badges, piping, zipper pulls and drawcords, today announced today that it will effect a share consolidation (“reverse stock split”) of its ordinary shares at a ratio of 1-for-10, effective as of 11:59 pm on december 3, 2024 (the “effective time”), in order to regain compliance with the minimum $1.00 bid price per share requirement of nasdaq's marketplace rules 5550(a)(2) and rule 5450(a)(1). the company's ordinary shares are expected to begin trading on a reverse stock split adjusted basis on nasdaq as of the open of trading on december 4, 2024, under the existing ticker symbol “jl.”
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