Galaxy Payroll Group Granted Additional 180-Day Nasdaq Compliance Period for Minimum Bid Price

Galaxy Payroll Group Limited has received a notification letter from the Nasdaq Listing Qualifications staff confirming that the company has been granted an additional 180-day compliance period, until March 16, 2026, to regain compliance with the minimum bid price requirement. This extension is significant because it provides the company with additional time to address the deficiency and maintain its Nasdaq listing status, which is crucial for investor confidence and market accessibility.

The company had previously received a notice from Nasdaq on March 17, 2025, indicating that the closing bid price of its ordinary shares had been below $1.00 per share for 30 consecutive business days, failing to meet Nasdaq Listing Rule 5550(a)(2). The initial 180-day grace period expired on September 15, 2025, making this additional period essential for the company's continued listing. Nasdaq's decision to grant the extension is based on Galaxy meeting the continued listing requirement for market value of publicly held shares and all other applicable initial listing standards for the Nasdaq Capital Market, except for the bid price requirement.

According to the notification, if the closing bid price of the company's ordinary shares reaches $1.00 per share or more for a minimum of 10 consecutive business days by March 16, 2026, Nasdaq will provide written confirmation of compliance. The company has provided written notice to Nasdaq of its intention to cure the deficiency during this second compliance period by potentially implementing a reverse stock split. For more information, visit https://www.galaxyapac.com.

Mr. Wai Hong Lao, Chief Executive Officer of the company, stated that they appreciate Nasdaq granting this additional time, which acknowledges that they currently meet other key listing requirements apart from the bid price. This development matters because it highlights the company's efforts to enhance shareholder value and execute its business strategy while navigating regulatory challenges. The outcome will impact the company's ability to remain listed on a major exchange, affecting its visibility, liquidity, and attractiveness to investors.