- Graphjet Technology (GTI, Financial) faces potential suspension from Nasdaq due to delayed filings.
- The company's non-compliance has triggered a notice from the exchange.
- GTI plans to request a hearing to address and contest the suspension.
Graphjet Technology Faces Nasdaq Suspension
Graphjet Technology (GTI) is currently navigating a critical challenge as it has received an official notice from Nasdaq regarding its non-compliance with listing regulations. The core issue stems from delays in filing both its annual and quarterly reports.
Nasdaq's Response and Implications
As a result of these delays, Nasdaq has announced its intention to suspend GTI's trading activities starting June 13, 2025. This suspension could significantly impact the company's market presence and investor confidence.
Graphjet's Planned Response
In response to this development, Graphjet Technology is actively planning to request a hearing. The objective of this hearing will be to contest Nasdaq's decision and aim for a resolution that prevents the suspension of its shares.