Galaxy Payroll Group Limited has received a 180-day extension from Nasdaq to meet minimum bid price requirements, providing the company until March 16, 2026, to resolve its compliance issues. The Hong Kong-based payroll provider received notification from Nasdaq on September 16, 2025, confirming the additional compliance period after failing to maintain the required $1.00 per share minimum bid price during the initial grace period.
The company initially received a Nasdaq notice on March 17, 2025, indicating that its ordinary shares had traded below $1.00 for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). The initial 180-day compliance period expired on September 15, 2025, prompting the need for additional time. Nasdaq granted the extension because Galaxy Payroll Group continues to meet all other listing requirements for the Nasdaq Capital Market, including market value standards for publicly held shares.
According to the notification, the company has informed Nasdaq of its intention to potentially implement a reverse stock split to address the bid price deficiency. If Galaxy Payroll Group's shares reach $1.00 or higher for at least 10 consecutive business days before the March 2026 deadline, Nasdaq will provide written confirmation of compliance and close the matter. The company maintains its listing status during this compliance period.
Chief Executive Officer Wai Hong Lao stated that the extension acknowledges the company's compliance with other key listing requirements beyond the bid price issue. The company remains focused on enhancing shareholder value and executing its business strategy during this period. Investors and stakeholders can find additional information through the company's official communications channels at https://www.galaxyapac.com.
The extension provides Galaxy Payroll Group with critical breathing room to implement strategic measures that could stabilize its stock price and maintain its Nasdaq listing. For multinational companies relying on payroll outsourcing services, the company's ability to maintain its public listing status ensures continued access to capital markets and operational stability. The situation highlights the challenges faced by international companies in maintaining compliance with U.S. exchange requirements while operating across different markets including Hong Kong, Taiwan, Macau, and mainland China.
