Reebonz Holding Limited (the “Company” or “Reebonz”; Nasdaq: RBZ), a leading online luxury marketplace and platform in Asia Pacific, announced today that it has received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") dated April 7, 2020 indicating that the Company did not meet the continued listing requirement of maintaining a minimum bid price of $1 per share for the Nasdaq Global Market, as set forth in the Nasdaq Listing Rule 5450(a)(1) because the bid price of the Company's publicly held ordinary shares for the last 30 consecutive business days was below the minimum bid price requirement of US$1 per share. Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the Company has a compliance period of 180 calendar days, or until October 5, 2020 (the "Compliance Period"), to regain compliance with Nasdaq's minimum bid price requirement.
Reebonz Holding Limited (the “Company” or “Reebonz;” Nasdaq: RBZ), a leading online luxury marketplace and platform in Asia Pacific, announced today that it received formal notice from the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”), dated February 27, 2020, indicating that the Company’s ordinary shares would be subject to delisting from The Nasdaq Global Market based upon the Company’s non-compliance with the continued listing requirement of maintaining a minimum Market Value of Publicly Held Shares ("MVPHS") of at least $15,000,000, as set forth in Nasdaq Listing Rule 5450(b)(3)(C), unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”).
Reebonz Holding Limited (RBZ), a leading online luxury marketplace and platform in Southeast Asia and the Asia Pacific region, today announced that it has implemented the blockchain technology as part of its ecosystem strategy to establish the provenance of products. The Company is focused on building trust and providing authentication and ownership tools to its members. All products sold by Reebonz from its inventory (“B2C Merchandise Business”) since January 2019, will have a digital certificate.