TC Biopharm (Holdings) PLC Faces Nasdaq Delisting: Compliance Report Insights

The key information extracted from the financial report (Form 6-K) of TC Biopharm (Holdings) PLC includes:

1. Company Background:

• Name: TC Biopharm (Holdings) PLC
• Location: Maxim 1, 2 Parklands Way, Holytown, Motherwell, ML1 4WR, Scotland, United Kingdom
• Contact: +44 (0) 141 433 7557

2. Compliance Notification:

• Date of Notification: January 3, 2025
• Regulatory Body: Nasdaq Stock Market, LLC
• Issue: The company received a notification indicating that the closing bid price per share for its American Depositary Shares (ADSs) fell below $1.00 for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2) (the Bid Price Rule).

3. Consequences:

• Nasdaq's staff determined to delist the company's securities due to non-compliance with the Bid Price Rule.
• The company is under a discretionary panel monitor until August 21, 2025, which means it was not granted additional time to regain compliance.

4. Company's Actions:

• The company intends to request a hearing before a Nasdaq hearings panel to seek continued listing on The Nasdaq Capital Market.
• The hearing request will temporarily stay the suspension of trading and delisting of the company's ADSs and Warrants.

5. Assurances and Risks:

• The company plans to take definitive steps to demonstrate compliance with the Bid Price Rule.
• There is no guarantee that the panel will grant the request for continued listing or that the company will successfully demonstrate compliance within any extension period granted.

6. Signatory Information:

• The report is signed by Martin Thorp, Chief Financial Officer.
• Date of Report: January 8, 2025.

This summary highlights the company's current status regarding regulatory compliance and actions being taken to address the situation.