Treasure Global Receives Nasdaq Notice on Late Filing of Its Form 10-K
October 24 2022 - 4:02PM
Treasure Global Inc (Nasdaq: TGL) (“TGI”, or the “Company”), an
innovative e-commerce platform providing seamless payment solutions
and rewards programs, today announced that it received notice from
Nasdaq on October 20, 2022, notifying the Company that it is not in
compliance with the periodic filing requirements for continued
listing set forth in Nasdaq Listing Rule 5250(c)(1) because the
Company's Annual Report on Form 10-K for the year ended June 30,
2022 (“Fiscal Year 2022 10-K”) was not filed with the Securities
and Exchange Commission (“SEC”) by the required due date of
September 28, 2022.
The notice received from Nasdaq has no immediate
effect on the listing or trading of the Company's shares. Nasdaq
has provided the Company with 60 calendar days, until December 19,
2022, to submit a plan to regain compliance. If Nasdaq accepts the
Company's plan, then Nasdaq may grant the Company up to 180 days
from the prescribed due date, or March 27, 2023, for the filing of
the Fiscal Year 2022 10-K to regain compliance.
The Company announced on October 12, 2022, a
delay in the filing of its Annual Report primarily due to
completion of the audit process. The Company expects and intends to
submit to Nasdaq its compliance plan by December 19, 2022.
Management and the audit committee continue to work diligently
towards the completion of the Annual Report and continues to target
filing the Fiscal Year 2022 10-K with the SEC prior to the
expiration of the 60-day period referred to above, which would
automatically regain the Company’s compliance with Nasdaq Rule
5250(C)(1).
This announcement is made in compliance with
Nasdaq Listing Rule 5810(b), which requires prompt disclosure of
receipt of a deficiency notification.
About Treasure Global IncTGI is
an innovative Malaysian e-commerce platform providing seamless
payment solutions for consumers and merchants with instant rebates
and affiliate cashback programs. On a mission to bring together the
worlds of online e-commerce and offline physical retailers, TGI is
developing a portfolio of leading digital platforms for use
throughout Southeast Asia (“SEA”) and Japan. In June 2020, TGI
launched its proprietary product, the ZCITY App, a unique digital
ecosystem that transforms and simplifies the e-payment experience
for consumers, while simultaneously allowing them to earn rewards.
In the ZCITY ecosystem, users can utilize Tazte, a revenue
generating digital F&B management system providing merchants
with a one-stop touchless management and automated solution to
digitalize their businesses. As of September 2022, ZCITY had over
2,200,000 registered users.
For more information, please
visit https://treasureglobal.co/.
Forward Looking StatementsThis
press release may contain 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.
Such forward-looking statements are characterized by future or
conditional verbs such as "may," "will," "expect," "intend,"
"anticipate," believe," "estimate" and "continue" or similar words.
You should read statements that contain these words carefully
because they discuss future expectations and plans, which contain
projections of future results of operations or financial condition
or state other forward-looking information. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company's registration statement and
preliminary prospectus for the Company's offering filed with the
SEC. Copies of these documents are available on the SEC's website,
www.sec.gov. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
For further information, please contact:
U.S. Investor ContactAllison SossKCSA Strategic
Communicationsir_us@treasuregroup.co
Malaysian Investor
Contactsir_my@treasuregroup.co
Media ContactSue Chuah, Chief Marketing
OfficerTreasure Global Incmediacontact@treasuregroup.co
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