SHANGHAI and NEW YORK, July 25, 2024 (GLOBE NEWSWIRE) — On July 19, 2024, TH Worldwide Restricted, (Nasdaq:THCH), the unique operator of Tim Hortons espresso outlets in China (Tims China or the Firm) , acquired a discover (the Discover) from the Nasdaq Inventory Market LLC (Nasdaq), stating that the Firm’s atypical shares, par worth $0.00000939586994067732 per share (the atypical shares), fail to adjust to the $1.00 minimal bid worth requirement for continued itemizing on Nasdaq in accordance with Nasdaq Itemizing Rule 5550(a)(2) based mostly upon the closing bid worth of the atypical shares for the 30 consecutive enterprise days previous to the date of the Discover.
Pursuant to Nasdaq Itemizing Rule 5810(c)(3)(A), the Firm has been offered an preliminary interval of 180 calendar days, or till January 15, 2025, to regain compliance with the minimal bid worth requirement. To regain compliance, the closing bid worth of the atypical shares should be at the very least $1.00 for at the very least 10 consecutive enterprise days (with such compliance interval extendable on the discretion of Nasdaq) previous to January 15, 2025. Nasdaq would then present a written affirmation of compliance and the matter will probably be closed.
If the Firm is unable to regain compliance by January 15, 2025, the Firm might, underneath sure circumstances, be eligible for a further 180 calendar day interval to show compliance with the minimal bid worth requirement. If the Firm doesn’t qualify for the second compliance interval or fails to regain compliance through the second 180 calendar day interval, then Nasdaq will notify the Firm of its dedication to delist the atypical shares, at which level the Firm would have a chance to attraction the delisting dedication to a Hearings Panel.
The Firm will monitor the closing bid worth of its atypical shares. Receipt of the Discover has no impact on the Firm’s enterprise operations or the buying and selling of its securities at current.
On July 24, 2024, the Firm filed a Present Report on Type 6-Ok reporting the foregoing with the U.S. Securities and Change Fee.
ABOUT TH INTERNATIONAL LIMITED
TH Worldwide Restricted (Nasdaq: THCH) (Tims China) is the mother or father firm of the unique grasp franchisees of Tim Hortons espresso outlets in mainland China, Hong Kong, and Macau. Tims China was based by Cartesian Capital Group and Tim Hortons Eating places Worldwide, a subsidiary of Restaurant Manufacturers Worldwide (TSX: NYSE:) (NYSE: QSR).
The corporate’s philosophy is rooted in world-class execution and data-driven resolution making and centered round true native relevance, steady innovation, real group, and absolute comfort. For extra data, please go to https://www.timschina.com.
Ahead-Wanting Statements
This press launch contains forward-looking statements, which are sometimes recognized by the phrases “may,” “might,” “believes,” “thinks,” “anticipates,” “plans,” “expects,” “intends” or comparable expressions and embody, however will not be restricted to, statements associated to the timing and actions taken to regain compliance with Nasdaq. This data is certified in its entirety by cautionary statements and threat issue disclosures contained in filings made by Tims China with the U.S. Securities and Change Fee, together with its annual report on Type 20-F for the 12 months ended December 31, 2023. Tims China cautions readers that sure necessary components might have affected and will sooner or later have an effect on precise outcomes and will trigger precise outcomes for subsequent durations to vary materially from these expressed in any forward-looking assertion made herein. Tims China doesn’t undertake any obligation to replace forward-looking statements to mirror occasions or circumstances after the date hereof.
Contacts
Investor Relations
IR@timschina.com or Gemma.Bakx@cartesiangroup.com
Public Relations
patty.yu@timschina.com
Comply with @TimHortonsChina
Supply: TH Worldwide Restricted
