Pingtan Marine Enterprise Receives Extension from Nasdaq to meet Bid Price Requirement

FUZHOU, China, Dec. 30, 2021 /PRNewswire/ -- Pingtan Marine Enterprise Ltd. (Nasdaq: PME), ("Pingtan," or the "Company"), a fishing company based in the People's Republic of China, today announced that it received a notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") on December 28, 2021, which granted the Company's request for a 180-day extension to regain compliance with Nasdaq's minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule"). The Company now has until June 27, 2022 to regain compliance with the Bid Price Rule. Nasdaq's extension notice has no immediate effect on the continued listing status of the Company's ordinary shares, which remain listed on The Nasdaq Capital Market. 

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