YY Group Holdings Limited Successfully Regains NASDAQ Compliance

Rhea-AI Summary

YY Group Holdings (NASDAQ: YYGH) has successfully regained compliance with NASDAQ's Minimum Bid Price Rule, maintaining a stock price above $1.00 for over 12 consecutive business days. This achievement marks a significant recovery from a low of $0.71 two months ago, with the stock rising by over 70% to reach a peak of $1.295 and averaging $1.20 for the past two weeks.

The company attributes this success to strong investor support and market confidence in its vision and business model. CEO Mike Fu expressed gratitude for shareholder trust during this important period. Looking ahead, YYGH is focused on driving sustainable growth through technological advancements and market expansion. Recent developments include positive outcomes in the UAE market, with contracts signed with 5-star hotels like Sofitel Al Hamra and DoubleTree by Hilton, as well as expansion into the European market, starting with the United Kingdom.

Positive

• Stock price increased by over 70% in the past 60 days
• Regained compliance with NASDAQ's Minimum Bid Price Rule
• Expanded into UAE market with contracts signed with 5-star hotels
• Entered European market, starting with the United Kingdom

Negative

• None.

SINGAPORE, Oct. 10, 2024 (GLOBE NEWSWIRE) -- YY Group Holding Limited (NASDAQ: YYGH) (“YY Group”, “YYGH”, or the “Company”), is pleased to announce that the company has regained compliance with NASDAQ’s Minimum Bid Price Rule, maintaining a consistent stock price above $1.00 for more than 12 consecutive business days.

This achievement marks a key milestone in YYGH’s continued growth and recovery, after experiencing a low of $0.71 two months ago. The stock has risen by over 70%, to reach a peak at $1.295, averaging at $1.20 for the past 2 weeks, representing a significant improvement over the past 60 days. This growth highlights the market’s renewed confidence in the Company’s vision and the strength of its business model.

Investor Support Key to Recovery

The Company attributes this success to the unwavering support of its investors. In a market characterized by volatility, YYGH’s ability to stabilize and grow its stock price would not have been possible without the trust and confidence of its shareholders. The Company’s leadership recognizes the importance of its investor relationships and is committed to delivering long-term value through strategic initiatives and operational excellence.

Chief Executive Officer and Executive Director, Mike Fu, expressed his gratitude, stating: “We are incredibly grateful for the support of our investors during this crucial time. Their confidence in YY Group’s future has been a vital component of our ability to regain compliance with NASDAQ’s standards. As we look ahead, our commitment to innovation, excellence, and shareholder value remains stronger than ever.”

Looking Ahead

As part of its forward strategy, YYGH is dedicated to driving sustainable growth by leveraging technological advancements and exploring opportunities in new markets. The recent expansions into the UAE have resulted in positive outcomes with contracts signed with 5-star hotels such as Sofitel Al Hamra and DoubleTree by Hilton. Excitedly, the company has also expanded into the European market, with the United Kingdom as its first point of entry.

About YY Holdings Limited:
YY Group Holding Limited is a Singapore-based data and technology-driven company that specializes in creating enterprise intelligent labor matching services and smart cleaning solutions. Rooted in innovation and a commitment to user-centric experiences, YY Circle leverages app-based technology to optimize the labor sourcing market and the Internet of Things to revolutionize the cleaning industry.

For more information on the Company, please log on to https://yygroupholding.com/.

Investor Contact:
Phua Zhi Yong, Chief Financial Officer
YY Group
Enquiries@yygroupholding.com

FAQ

What was YY Group Holdings 's (YYGH) recent stock price performance?

YYGH's stock price rose by over 70% in the past 60 days, reaching a peak of $1.295 and averaging $1.20 for the past two weeks, up from a low of $0.71 two months ago.

Has YY Group Holdings (YYGH) regained compliance with NASDAQ requirements?

Yes, YYGH has successfully regained compliance with NASDAQ's Minimum Bid Price Rule by maintaining a stock price above $1.00 for over 12 consecutive business days.

What new markets has YY Group Holdings (YYGH) recently expanded into?

YYGH has recently expanded into the UAE market, signing contracts with 5-star hotels, and has also entered the European market, starting with the United Kingdom.

Who is the CEO of YY Group Holdings (YYGH)?

The CEO and Executive Director of YY Group Holdings is Mike Fu.