6-K
BitVentures Ltd (BVC)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TORULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2024
CommissionFile Number: 001-40238
SANTECH HOLDINGS LIMITED
Level 15, AIA Central, No.1 Connaught Road Central
Central, Hong Kong
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
EXPLANATORY NOTE
On November 21, 2024, Santech Holdings Limited (the “Company”) received a letter (the “Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) stating that since the Company has not yet filed its Form 20-F for the year ended June 30, 2024 (the “Filing”), it no longer complies with Listing Rule 5250(c)(1) of Nasdaq’s Listing Rules (the “Rules”) for continued listing.
Under Nasdaq’s Rules, the Company has 60 calendar days to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, Nasdaq can grant the Company an exception of up to 180 calendar days from the Filing’s due date, or until May 14, 2025, to regain compliance.
The Company is required to submit its plan to Nasdaq no later than January 21, 2025. If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal that decision to a Hearings Panel.
The Company is currently working with its advisers to prepare the Filing or to formulate the requisite plan to regain compliance and intends to submit such Filing or such plan to Nasdaq within the timeframe required under Nasdaq’s Rules.
The Letter has no effect on the listing of the Company’s American depositary shares (“ADSs”) at this time, and the Company’s ADSs will continue to trade on The Nasdaq Global Market under the symbol “STEC.”
Exhibits
| 99.1 | Press<br> release dated November 25, 2024 |
|---|
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Santech Holdings Limited | |
|---|---|
| By: | /s/ Lawrence Lok |
| Name: | Lawrence Lok |
| Title: | Chief Financial Officer |
Date: November 25, 2024
Exhibit 99.1
Santech Holdings Limited Received Notification of Deficiency fromNasdaq Related to Not Timely Filing of Annual Report on Form 20-F
HONG KONG, November 25, 2024 /GLOBE NEWSWIRE/ -- Santech Holdings Limited (NASDAQ: STEC) (“Santech” or the “Company”) announced today that it received a notice of non-compliance from Nasdaq Stock Market LLC (“Nasdaq”) on November 21, 2024 stating that, as a result of not having timely filed its annual report on Form 20-F for the year ended June 30, 2024, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission. This notice has no immediate effect on the listing or trading of the Company’s American depositary shares on the Nasdaq.
Under Nasdaq’s listing rules, the Company has 60 calendar days to submit a plan to regain compliance. If the plan is accepted by Nasdaq, the Company can be granted up to 180 calendar days from the Form 20-F’s due date, or until May 14, 2024, to regain compliance.
The Company is currently working with its advisers to prepare the Filing or to formulate the requisite plan to regain compliance and intends to submit such Filing or such plan to Nasdaq within the timeframe required under Nasdaq’s Rules.
About SantechHoldings Limited
Santech Holdings Limited (NASDAQ: STEC) is a consumer-focused technology company. The Company historically served a large number of high net-worth clients in China in financial services and health management, and accumulated a large customer base. The Company has exited or disposed of its historical businesses in financial services and is actively exploring innovative new opportunities in technology, including but not limited to new retail, social e-commerce and metaverse. For more information, please visit https://ir.santechholdings.com.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipate,” “estimate,” “forecast,” “plan,” “project,” “potential,” “continue,” “ongoing,” “expect,” “aim,” “believe,” “intend,” “may,” “should,” “will,” “is/are likely to,” “could” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Contact:
Santech Holdings Limited
Email: [email protected]
Media Contact:
ICR, LLC
Edmond Lococo
Phone: +86 138-1079-1408
Email: [email protected]