Aesthetic Medical International Holdings Group Ltd. Announces Receipt of Delisting Decision from the Nasdaq Hearings Panel
May 20 2024 - 6:55AM
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 a
determination letter of the Hearings Panel (the “Panel”) of The
Nasdaq Capital Market (“Nasdaq”) dated May 17, 2024, notifying the
Company that the Panel determined to delist the Company’s
securities from Nasdaq, due to the failure to satisfy the continued
listing conditions as previously disclosed. As a result, the
Company expects that its securities will be suspended from trading
at the open of business on May 21, 2024 and delisted from Nasdaq
after the completion of Nasdaq’s filing of a Form 25 Notification
of Delisting with the Securities and Exchange Commission after all
appeal periods have expired. The Company does not intend to
file an appeal of the determination.
Following the delisting, the Company expects
that its American Depositary Shares (the “ADSs”) will be quoted on
the “over the counter” market operated by OTC Markets Group Inc
(the “OTC”) so that a trading market may continue to exist for its
ADSs. There is no guarantee, however, that a broker will continue
to make a market in the ADSs and that trading of the ADSs will
continue on an OTC market or otherwise.
The delisting from Nasdaq will have no
significant impact on the Company’s operations in the aesthetic
medical industry in mainland China. The Company is committed to
enhancing operational management and efficiency and aims to drive
performance growth.
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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