FUZHOU,
China, July 5, 2022 /PRNewswire/ -- Pingtan
Marine Enterprise Ltd. (Nasdaq: PME), ("Pingtan" or the
"Company"), a fishing company based in the People's Republic of China, today
announced that it has received a notification letter from the
Listing Qualifications Department of The Nasdaq Stock Market LLC
("Nasdaq") dated June 29, 2022,
indicating that the Company has regained compliance with the
minimum bid price requirement set forth in Nasdaq Listing Rule
5550(a)(2) for continued listing of its ordinary shares on the
Nasdaq Capital Market.
As previously announced, the Company was notified by Nasdaq on
June 30, 2021 that the bid price of
the Company's ordinary shares for the last 30 consecutive business
days has closed below the minimum of $1.00 per share required for continued listing
under Nasdaq Listing Rule 5550(a)(2).
On June 29, 2022, Nasdaq provided
confirmation to the Company that for the 16 consecutive business
days, from June 2 to June 24, 2022,
the closing bid price of the Company's common stock has been at
$1.00 per share or greater.
Accordingly, the Company has regained compliance with Nasdaq
Listing Rule 5550(a)(2) and this matter is now closed.
About Pingtan
Pingtan is a fishing company that engages in ocean fishing
through its subsidiary, Fujian Provincial Pingtan County Ocean
Fishing Group Co., Ltd.
Forward-Looking Statements
This press release contains ''forward-looking statements''
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended and the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical fact in this
press release are forward-looking statements, including but not
limited to statements regarding the Company's compliance with
Nasdaq listing rules. Actual results and the timing of
relevant events could differ materially from those anticipated in
such forward-looking statements as a result of these risks and
uncertainties. These forward-looking statements are based on the
Company's current expectations and involve known and unknown risks
and uncertainties. Investors can identify these forward-looking
statements by words or phrases such as "may," "will," "expect,"
"anticipate," "aim," "estimate," "intend," "plan," "believe,"
"potential," "continue," "is/are likely to" or other similar
expressions. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. All forward-looking statements are qualified in
their entirety by this cautionary statement, and the Company
undertakes no obligation to revise or update any forward-looking
statements to reflect events or circumstances after the date
hereof.
CONTACT:
LiMing Yung (Michael)
Chief Financial Officer
Pingtan Marine Enterprise Ltd.
Tel: +86 591 87271753
michaelyung@ptmarine.net
Maggie Li
Investor Relations Manager
Pingtan Marine Enterprise Ltd.
Tel: +86 591 8727 1753
mli@ptmarine.net
INVESTOR RELATIONS
PureRock Communications Limited
PTmarine@pure-rock.com
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SOURCE Pingtan Marine Enterprise Ltd.
