Srivaru holding limited announces receipt of nasdaq delisting notification and plans to appeal

Grand cayman, cayman islands, july 26, 2024 (globe newswire) -- srivaru holding limited (nasdaq: svmh, svmhw) (“srivaru” or the “company”), a manufacturer of premium electric motorcycles today announced that on july 24, 2025, the company received a staff determination letter (the “letter”) from the listing qualifications department of the nasdaq stock market llc (“nasdaq”) notifying the company of the determination of the nasdaq staff (the “staff”) that because the company had not regained compliance with the minimum bid price requirement set forth in nasdaq listing rule 5450(a)(1) (the “rule”), the company's ordinary shares are now subject to delisting from the nasdaq global market. in addition, the staff advised that the company's warrants are subject to delisting pursuant to listing rule 5455(a). unless the company requests an appeal of this determination, the company's ordinary shares and warrants would be scheduled for delisting from the nasdaq global market at the opening of business on august 2, 2024, and a form 25-nse will be filed with the securities and exchange commission, which will remove the company's securities from listing and registration on the nasdaq stock market.
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