NINGDE, China, June 26, 2026 (GLOBE NEWSWIRE) -- Oriental Rise Holdings Limited (OTC: ORISF) ("Oriental Rise" or the "Company"), an integrated tea supplier in mainland China, today announced that it has filed a request to appeal with the Nasdaq Listing and Hearing Review Council following the Nasdaq Hearings Panel's denial of the Company's request for reconsideration of its delisting decision.
As previously disclosed, on June 22, 2026, the Company received a written decision from the Nasdaq Hearings Panel (the "Panel") denying the Company's request for continued listing on the Nasdaq Capital Market; the decision noted, among other things, that trading in the Company's ordinary shares would be suspended at the open of trading on June 24, 2026.
The Company's 1-for-4 reverse stock split became effective at the open of trading on June 22, 2026. On that date, the Company's ordinary shares opened at $2.04 per share and closed at $2.42 per share, materially above Nasdaq's $1.00 minimum bid price requirement.
On the evening of June 22, 2026, the Company submitted an emergency request asking the Panel to stay the suspension and reconsider its delisting decision in light of the effectiveness of the reverse stock split and the Company's post-split trading performance.
On June 23, 2026, the Company was advised by Nasdaq staff that the Panel was reviewing the Company's reconsideration request, that the Company would be notified within 15 calendar days, and that the Panel had chosen to stay the suspension while considering the request.
On June 24, 2026, Nasdaq staff further advised the Company's counsel that the June 23rd email had inadvertently omitted the word "not" and should instead have stated that the Panel had chosen not to stay the suspension. Trading in the Company's ordinary shares on Nasdaq was therefore suspended while the reconsideration request remained under review.
On June 25, 2026, the Company was informed that the Panel denied the Company's request for reconsideration.
On June 25, 2026, the Company filed a request appeal with the Nasdaq Listing and Hearing Review Council pursuant to Nasdaq Listing Rule 5820(a). The Company has requested expedited review, an interim stay of the Panel's decision and reinstatement of trading on Nasdaq while the Listing Council considers the appeal.
The filing of an appeal does not stay the suspension or reinstate trading on Nasdaq. Unless and until the Listing Council grants interim relief or reverses or modifies the Panel's decision, the Company's ordinary shares are expected to continue to be quoted in the over-the-counter market under the symbol "ORISF."
There can be no assurance that the Listing Council will grant an interim stay, reinstate trading on Nasdaq, reverse or modify the Panel's decision, or otherwise grant the relief requested by the Company.
The suspension from Nasdaq does not affect the Company's business operations, corporate organization, or obligation to continue complying with applicable U.S. Securities and Exchange Commission reporting requirements.
About Oriental Rise Holdings Limited
Oriental Rise Holdings Limited is an integrated supplier of tea products in mainland China. Its major tea products include primarily-processed tea consisting of white tea and black tea, as well as refined white tea and black tea. The Company's business operations are vertically integrated, covering tea cultivation, processing of tea leaves, and the sale of tea products to tea business operators, such as wholesale distributors, and end-user retail customers in mainland China. The Company operates tea gardens located in Zherong County, Ningde City in Fujian Province of mainland China.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, without limitation, statements regarding the Company's appeal of the Nasdaq delisting decision, its requests for expedited review, an interim stay and reinstatement of trading, the Company's ability to regain or maintain compliance with Nasdaq's continued listing requirements, and the continued quotation of the Company's ordinary shares in the over-the-counter market. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Words such as "believes," "expects," "intends," "plans," "may," "will," "could," and similar expressions are intended to identify forward-looking statements.
There can be no assurance that the Company's appeal will be successful, that any interim relief will be granted, or that trading in the Company's ordinary shares will resume on Nasdaq. Actual results may differ materially from those described in the forward-looking statements.
The Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable law. Investors are cautioned that actual results may differ materially from those described in the forward-looking statements.
For investor and media inquiries, please contact:
Oriental Rise Holdings Limited
Investor Relations Department
Email: ir@mdhtea.cn
