Greenland Technologies Holding Corporation (NASDAQ:GTEC) (“Greenland” or the “Company”) today announced that on January 4, 2023, it received a notification (the “Notification”) from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company no longer satisfies Nasdaq Listing Rule 5620(a) because the company failed to hold an annual shareholders meeting within twelve months of the Company’s fiscal year ended December 31, 2021. The Notification has no immediate effect on the listing of the Shares, and the Shares continue to trade on the Nasdaq Capital Market under the symbol “GTEC”.
Accordingly, the Company will hold its 2022 Annual General Meeting of Shareholders on Tuesday, January 31, 2023. The meeting will be held in a virtual-only format and will begin at 9:30 a.m. ET. While shareholders will be able to attend the meeting online through a live audio webcast, there will not be a physical location for the annual meeting.
Pursuant to Nasdaq Listing Rules, the Company has 45 calendar days to submit a plan to regain compliance and if accepted, has up to 180 calendar days from the fiscal year end or until June 29, 2023 to regain compliance under the Nasdaq Listing Rules.
The meeting will focus on shareholder voting on formal business and proxy proposals. Shareholders may vote their shares electronically, online, by mail or by phone prior to 11:59 p.m. Eastern time on January 29, 2023. Shareholders entitled to vote at the meeting may also vote their shares online during the meeting.
The record date for shareholders entitled to vote at the virtual meeting is Friday, December 30, 2022. The Company’s preliminary proxy statement was filed on Friday, January 6, 2023 and includes details confirming how shareholders can access the January 31 virtual meeting and vote shares before or during the meeting. The public will also be able to listen to the Annual General Meeting, without the option to vote, through www.virtualshareholdermeeting.com/GTEC2023.
