Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 36

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 3
Chunk 36
---
 Related to Our Securities

We may not maintain the listing of our Ordinary
Shares on the Nasdaq Capital Market, which could limit investors’ ability to make transactions in our Ordinary Shares and subject
us to additional trading restrictions.

On January 16, 2025, we received
a written notification from the Listing Qualifications Department of the Nasdaq Stock Market LLC (the “ Nasdaq Notification”)
notifying us that we are not in compliance with Nasdaq Listing Rules 5620(a) and 5810(c)(2)(G), which require that Nasdaq-listed companies
hold an annual meeting of shareholders within twelve months of their fiscal year end (the “ Annual Meeting Requirement”), because
we did not hold an annual meeting of shareholders within twelve months of our December 31, 2023 fiscal year end. The notification received
had no immediate effect on our Nasdaq listing. In accordance with Nasdaq rules, we have 45 calendar days, or until March 3, 2025 to submit
a plan to regain compliance with the Annual Meeting Requirement.

If our Ordinary Shares are delisted
from Nasdaq, we could face significant material adverse consequences, including:

  limited availability of market quotations for our Ordinary Shares;                                                                                                                                    
  reduced liquidity for our Ordinary Shares;                                                                                                                                                            
  a determination that our Ordinary Shares are “penny stock,” which will require brokers trading in our shares to adhere to more stringent rules and possibly result in a reduced level of trading ...  
  a limited amount of news and analyst coverage; and                                                                                                                                                    
  decreased ability to issue additional securities or obtain additional financing in the future.                                                                                                        

In addition, as long as our Ordinary
Shares are listed on Nasdaq, U. S. federal law prevents or preempts the states from regulating their sale, although the law does allow
the states to investigate companies if there is a suspicion of fraud and, if there is a finding of fraudulent activity, then the states
can regulate or bar their sale. If we were no longer listed on Nasdaq, we would be subject to regulations in each state in which we offer
our shares

As of the date of this Annual Report, we: (i)
are not required to obtain permissions from any PRC authorities to operate or issue our Ordinary Shares to foreign investors; (ii) are
not subject to permission requirements from the China Securities Regulatory Commission (the “ CSRC”), the Cyberspace Administration
of China (the “ CAC”) or any other entity that is required