Aesthetic Medical International Holdings Group Ltd. Announces Receipt of Decision from the Nasdaq Hearings Panel for Conditional Continued Listing
April 25 2024 - 4:55PM
Aesthetic Medical International Holdings Group Limited (Nasdaq:
AIH) (the “Company” or “AIH”), a leading provider of aesthetic
medical services in China, today announced that it has received the
decision of the Hearings Panel (the “Panel”) of The Nasdaq Capital
Market (the “Nasdaq”) advising the Company that the Panel
determined to permit the continued listing of the Company's
securities on the Nasdaq, subject to certain conditions, which
include (i) on or before May 15, 2024, the Company shall obtain its
board approval to conduct a reverse stock split at a 10-for-1
ratio; and (ii) on or before September 3, 2024, the Company shall
demonstrate compliance with Listing Rule 5550(a)(2) (the “Minimum
Bid Price Rule”) and all applicable requirements for continued
listing on the Nasdaq.
As previously disclosed, the Company had been
notified by the Nasdaq on March 6, 2024 that it had not regained
compliance with the Minimum Bid Price Rule within the 180-calendar
day grace period and is not eligible for a second 180-calendar day
grace period for continued listing on the Nasdaq. The Company
submitted a request for a hearing to the Panel to appeal the
delisting determination for an extension to satisfy the Minimum Bid
Price Rule for continued listing on the Nasdaq. The Panel hearing
was held on April 11, 2024. On April 22, 2024, the Company received
a decision from the Panel to grant the Company’s request for
continued listing on the Nasdaq, subject to the certain conditions
set out above.
About Aesthetic Medical International Holdings Group
Limited
AIH, known as “Peng’ai” in China, is a leading
provider of aesthetic medical services in China. AIH operates
through treatment centers that are spread across major cities in
mainland China, with a major focus on the Guangdong-Hong Kong-Macau
Greater Bay area and the Yangtze River Delta area. Leveraging over
20 years of clinical experience, AIH provides one-stop aesthetic
service offerings, including surgical aesthetic treatments,
non-surgical aesthetic treatments, general medical services, and
other aesthetic services. For more information regarding the
Company, please visit https://ir.aihgroup.net/.
Cautionary Statements
This press release contains “forward-looking
statements.” These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will”, “expects”, “anticipates”, “aims”,
“future”, “intends”, “plans”, “believes”, “estimates”, “likely to”
and similar statements. Statements that are not historical facts,
including statements about the Company’s beliefs, plans and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. These risks
and uncertainties and others that relate to the Company’s business
and financial condition are detailed from time to time in the
Company’s SEC filings, and could cause the actual results to differ
materially from those contained in any forward-looking statement.
These forward-looking statements are made only as of the date
indicated, and the Company undertakes no obligation to update or
revise the information contained in any forward-looking statements,
except as required under applicable law.
Investor Relations Contacts
For investor and media inquiries, please contact:
Aesthetic Medical International Holdings Group
Limited
Email: ir@pengai.com.cnWebsite:
https://ir.aihgroup.net
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