TIAN RUIXIANG Holdings Ltd Receives Notification of Non-compliance from Nasdaq Relating to Late Filing of Annual Report on Form 20-F
BEIJING, March 25, 2024 (GLOBE NEWSWIRE) -- TIAN RUIXIANG Holdings Ltd (Nasdaq: TIRX) (the "Company"), a China-based insurance broker conducting business through its variable interest entity in China, today announced that on March 20, 2024, it received a notice of non-compliance from Nasdaq Listing Qualifications which states that, as a result of not having timely filed its annual report on Form 20-F for the fiscal year ended October 31, 2023 (the "2023 Form 20-F"), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic reports with the Securities and Exchange Commission (the "SEC").
- BEIJING, March 25, 2024 (GLOBE NEWSWIRE) -- TIAN RUIXIANG Holdings Ltd (Nasdaq: TIRX) (the "Company"), a China-based insurance broker conducting business through its variable interest entity in China, today announced that on March 20, 2024, it received a notice of non-compliance from Nasdaq Listing Qualifications which states that, as a result of not having timely filed its annual report on Form 20-F for the fiscal year ended October 31, 2023 (the "2023 Form 20-F"), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic reports with the Securities and Exchange Commission (the "SEC").
- This notice has no immediate effect on the listing or trading of TIRX's Class A ordinary shares on the Nasdaq Capital Market.
- Under Nasdaq’s listing rules, the Company has 60 calendar days, or until May 20, 2024, to submit a plan to regain compliance.
- If the plan is accepted by Nasdaq, the Company can be granted up to 180 calendar days from the 2023 Form 20-F's due date, or until September 10, 2024, to regain compliance.