Premium Catering (PC) said Monday that it received a notice from Nasdaq over its non-compliance with the exchange's minimum market value of listed securities of $35 million.
The company also said that it received a further notice indicating that its shares failed to keep a minimum bid price of $1 over the last 30 straight business days.
The firm said it has until June 9 to regain compliance with both requirements.
Premium Catering said it may consider implementing options, including a reverse stock split, to regain compliance.
The stock was down more than 2% in recent trading.
Price: 0.78, Change: -0.02, Percent Change: -2.54
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