# EDGAR Filing Document

**Accession Number:** 0001991946
**File Stem:** 0001193125-25-134163
**Filing Date:** 2025-6
**Character Count:** 20029
**Document Hash:** be80953f301bd9e90ff9d87a4ed84cf0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-134163.hdr.sgml**: 20250603

**ACCESSION NUMBER**: 0001193125-25-134163

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 7

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250603

**DATE AS OF CHANGE**: 20250603

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Crown LNG Holdings Ltd
- **CENTRAL INDEX KEY:** 0001991946
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATURAL GAS DISTRIBUTION [4924]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42162
- **FILM NUMBER:** 251020381

**BUSINESS ADDRESS:**
- **STREET 1:** 37TH FLOOR, 1 CANADA SQUARE
- **STREET 2:** CANARY WHARF
- **CITY:** GREATER LONDON
- **STATE:** X0
- **ZIP:** E14 5AA
- **BUSINESS PHONE:** 44-33-3023-0030

**MAIL ADDRESS:**
- **STREET 1:** 37TH FLOOR, 1 CANADA SQUARE
- **STREET 2:** CANARY WHARF
- **CITY:** GREATER LONDON
- **STATE:** X0
- **ZIP:** E14 5AA

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER** 

**PURSUANT TO RULE 13a-16 OR 15d-16**

**UNDER THE SECURITIES EXCHANGE ACT OF 1934** 

**For the month of June 2025** 

**Commission File Number: 001-42162**

## CROWN LNG HOLDINGS LIMITED
**(Translation of registrant's name into English)** 

**37th Floor, 1 Canada Square, Canary Wharf, London,** 

**Greater London E14 5AA, United Kingdom** 

**(Address of principal executive offices)** 

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 ☒ Form 40-F ☐

------

**Nasdaq Notice** 

As previously disclosed, on September 3, 2024, the Listing Qualifications Department (the "***Staff***") of The Nasdaq Stock Market LLC ("***Nasdaq***") notified Crown LNG Holdings Limited, a private limited company incorporated under the laws of Jersey, Channel Islands (the "***Company***") that the bid price of its listed securities had closed at less than $1 per share over the previous 30 consecutive business days, and, as a result, did not comply with Listing Rule 5550(a)(2) (the "***Rule***"). The Company was provided 180 calendar days, or until March 3, 2025, to regain compliance with the Rule. Subsequently, on March 4, 2025, the Company was provided an additional 180 day calendar period, or until September 1, 2025, to regain compliance.

On May 30, 2025, the Company received written notice (the "***Notice***") from the Staff that it did not comply with Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the "***Low Priced Stocks Rule***") because the Company's securities had a closing bid price of $0.10 or less for ten consecutive trading days.

As a result of the non-compliance with the Rule and the Low Priced Stocks Rule, Staff has determined to delist the Company's securities from The Nasdaq Capital Market. Additionally, the Staff also determined that the Company's previously disclosed failure to file its Form 20-F in accordance with Listing Rule 5250(c)(1) serves as a separate and additional basis for delisting the Company. Therefore, unless the Company requests an appeal, trading of the Company's common stock will be suspended at the opening of business on June 10, 2025.

The Company plans to appeal of the determinations contained in the Notice by June 6, 2025 (the "***Appeal Deadline***"). An appeal will stay the suspension of the Company's securities until the hearing occurs. The Company plans to appeal the delisting determinations under the procedures set forth in the Nasdaq Listing Rule 5800 Series, no later than the Appeal Deadline. The Company may also pursue a reverse share split to regain compliance. The Company may not be successful in obtaining a favorable decision from the Nasdaq Hearings Panel in its appeal. Furthermore, no assurances can be provided that the Company will be able to regain or maintain compliance with the Nasdaq listing rules and continue the listing of its securities on Nasdaq.

**Forward Looking Statements** 

This Form 6-K Report includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in any subsequent filings with the U.S. Securities and Exchange Commission (the "***SEC***"). Copies are available on the SEC's website, www.sec.gov. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any statement is based.

---

| | |
|:---|:---|
| **Exhibits** | **Exhibits** |
| Exhibit No. | Description |
| 99.1 | [Nasdaq Notice, dated May 30, 2025](d30521dex991.htm) |
| 99.2 | [Press Release dated June 3, 2025](d30521dex992.htm) |

---

------

SIGNATURE

Under the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed by the duly authorized undersigned.

---

| | | |
|:---|:---|:---|
|  | **CROWN LNG HOLDINGS LIMITED** | **CROWN LNG HOLDINGS LIMITED** |
| Date: June 3, 2025 | By: | /s/ Jørn Husemoen |
|  | Name: | Jørn Husemoen |
|  | Title: | Authorized Signatory |

---

## Exhibit 99.1

**Exhibit 99.1** 

---

| | |
|:---|:---|
| ![LOGO](g30521dsp004.jpg) | ![LOGO](g30521dsp004a.jpg) |

---

**Stanley Higgins** 

Associate Vice President

Nasdaq Listing Qualifications

*<u>By Electronic Delivery to: jorn@crownlng.com; atucker@duanemorris.com</u>* 

May 30, 2025

Mr. Jørn Husemoen

Chief Financial Officer

Crown LNG Holdings Limited

37th Floor, 1 Canada Square, Canary Wharf, London,

Greater London E14 5AA, United Kingdom

Re: Crown LNG Holdings Limited (the "Company") – Staff Determination Nasdaq Symbol: CGBS

Dear Mr. Husemoen:

As you are aware, on September 3, 2024, Staff notified the Company that the bid price of its listed securities had closed at less than $1 per share over the previous 30 consecutive business days, and, as a result, did not comply with Listing Rule 5550(a)(2) (the "Rule"). Therefore, in accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until March 3, 2025, to regain compliance with the Rule. Subsequently, on March 4, 2025, the Company was provided an additional 180 day calendar period, or until September 1, 2025, to regain compliance.

Since then, Staff has determined that as of May 29, 2025, the Company's securities had a closing bid price of $0.10 or less for ten consecutive trading days.<sup>1</sup> Accordingly, the Company is subject to the provisions contemplated under Listing Rule 5810(c)(3)(A)(iii) (the "Low Priced Stocks Rule").<sup>2</sup> As a result, Staff has determined to delist the Company's securities from The Nasdaq Capital Market.

In that regard, unless the Company requests an appeal of this determination by June 6, 2025, as described below, trading of the Company's common stock will be suspended at the opening of business on June 10, 2025, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing and registration on The Nasdaq Stock Market.

Additionally, on May 19, 2025, Staff notified the Company that since it had not yet filed its Form 20-F for the period ended December 31, 2024, it no longer complied with our Listing Rule 5250(c)(1) (the "Filing Requirement") and requested the compliance submit a plan to regain compliance with the Filing Requirement no later than July 18, 2025. However pursuant to Listing Rule 5810(c)(2), this deficiency serves as a separate and additional for delisting, and the Company should also address this concern before a Hearings Panel if it appeals Staff's determination.

<sup>1</sup> The Company's bid price has closed at or below $0.10 per share from May 15, 2025 to May 29, 2025. 

<sup>2</sup> Listing Rule 5810(3)(A)(iii) states in part: if during any compliance period specified in Rule 5810(c)(3)(A) a Company's security has a closing bid price of $0.10 or less for ten consecutive trading days, the Listing Qualifications Department shall issue a Staff Delisting Determination under Rule 5810 with respect to that security. 

![LOGO](g30521dsp004b.jpg)

------

Mr. Jørn Husemoen

May 30, 2025

The Company may appeal Staff's determination to a Hearings Panel (the "Panel"), pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. Hearings are typically scheduled to occur approximately 30-45 days after the date of the hearing request. Please use the link, "Hearing Requests & Process" on the attached chart for detailed information regarding the hearings process. If you would like additional information regarding the hearings process, please call the Hearings Department at +1 301 978 8203.

A hearing request will stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision. Hearing requests should not contain arguments in support of the Company's position. The Company may request either an oral hearing or a hearing based solely on written submissions. The fee for a hearing is $20,000.<sup>3</sup> Please submit your non-refundable Hearing Request fee in accordance with the instructions provided on the attached "Check Payment Form".<sup>4</sup> The request for a hearing and confirmation of payment should be submitted electronically through our <u>Listing Center</u><sup>5</sup> and must be received by the Hearings Department no later than 4:00 p.m. Eastern Time on June 6, 2025.<sup>6</sup>

The Company will be asked to provide a plan to regain compliance to the Panel. Accordingly, the Company may wish to consider presenting a plan that includes a discussion of the events that it believes will enable it to regain compliance in this time frame and a commitment to effect a reverse stock split, if necessary.

Listing Rule 5835 prohibits communications relevant to the merits of a proceeding under the Listing Rule 5800 Series between the Company and the Hearings Department unless Staff is provided notice and an opportunity to participate. In that regard, Staff waived its right to participate in any oral communications between the Company and the Hearings Department. Should Staff determine to revoke such waiver, the Company will be immediately notified, and the requirements of Listing Rule 5835 will be strictly enforced.

Our Rules require that the Company promptly disclose receipt of this letter by either filing a Form 8-K, where required by SEC rules, or by issuing a press release. The announcement needs to be made no later than four business days from the date of this letter and must include the continued listing criteria that the Company does not meet, and a description of each specific basis and concern

<sup>3</sup> Nasdaq is not responsible for costs associated with the wire transfer of hearing fees. Please be sure to include a sufficient amount to cover any applicable bank fees. 

<sup>4</sup> The Form also includes a "link" for payment by wire.

<sup>5</sup> To utilize our electronic form process, please create a user account, if you have not already done so. Once you create a user account, you can begin completing the Hearing Request Form. At any time, you may save your work and complete it at a later time. Upon submission, you will receive a confirmation email. Please note that prior to starting you will need the following company information: current trading symbol, Central Index Key (CIK) code or CUSIP. 

<sup>6</sup> Listing Rule 5815(a)(3). Within seven calendar days of the date of the Staff Delisting Determination, Public Reprimand Letter, or written denial of an initial listing application, the Company must submit a non-refundable hearing fee of $20,000. **<u>No payment will be credited and applied towards the hearings fee unless the issuer has previously paid all applicable fees due to the Exchange</u>.** 

------

Mr. Jørn Husemoen

May 30, 2025

identified by Nasdaq in reaching the determination.<sup>7</sup> The Company must also submit the announcement to Nasdaq's MarketWatch Department.<sup>8</sup> If the public announcement is made between the hours of 7:00 AM and 8:00 PM Eastern Time, the Company must submit the announcement to Nasdaq's MarketWatch Department at least ten minutes prior its public release. If the public announcement is made outside of these hours, the Company must submit the announcement prior to 6:50 A.M. Eastern Time. Please note that if you do not make the required announcement trading in your securities will be halted.<sup>9</sup>

If you have any questions, please contact me at +1 202 573 4570.

Sincerely,

![LOGO](g30521adsp6.jpg)

Enclosures

<sup>7</sup> Listing Rule 5810(b). See FAQ #428 available on the <u>Nasdaq Listing Center</u>.

<sup>8</sup> The notice must be submitted to Nasdaq's MarketWatch Department through the Electronic Disclosure submission system available at <u>nasdaq.net/ED/IssuerEntry</u>.

<sup>9</sup> Listing IM-5810-1.

------

**<u>NASDAQ ONLINE RESOURCES</u>**

All of our listing information and forms are available electronically on the <u>Listing Center</u>. In addition to facilitating electronic submission of forms, you can also use the Listing Center to access Nasdaq's Reference Library containing hundreds of frequently asked questions and Governance Clearinghouse containing the latest updates on corporate governance and listing standards.

To help you navigate the deficiency process, we have provided links to some our most viewed resource materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Board Composition and Committee Requirements</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Governance Clearinghouse</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Hearings Process</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>How to Transfer to Nasdaq Capital Market</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Information about Application of Shareholder Approval Rules</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Initial Listing Process</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Listing Fees</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Listing of Additional Shares Process</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>MarketWatch Electronic Disclosure Submissions</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Nasdaq Listing Rules</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reference Library: Frequently Asked Questions, Staff Interpretations and Listing Council Decisions</u> 

------

**Fee Payment Form** 

Please follow the wire payment instructions <u>here</u> and take note of the information below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **New Company Application and Entry:** The application fee is $25,000 for the Global or Global Select Market,
$5,000 for the Capital Market, and $1,000 for companies applying to list Closed End Funds, Exchange Traded Funds, Index Fund Shares or other structured products. The remainder of the entry fee is due prior to the first day of trading. Nasdaq will
credit all application fees paid by the Company in connection with an application that has not been closed towards the Entry Fee payable upon listing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Application Renewal Fee:** If a Company does not list within 12 months of submitting its application, it
will be assessed an additional non-refundable $5,000 application fee each 12 months thereafter to keep its application open.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Hearing Request:** The fee in connection with a hearing request is $20,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Appeal Request:** The fee in connection with an appeal of a Hearing Panel decision to the NASDAQ Listing and
Hearing Review Council is $15,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Transfer Application:** The fee for companies transferring from the Global or Global Select Market to the
Capital Market is $5,000.

## Exhibit 99.2

**Exhibit 99.2** 

**Crown LNG Holdings Limited Discloses Receipt of NASDAQ Letter** 

**London, United Kingdom, June 3, 2025** - On May 30, 2025, Crown LNG Holdings Limited (the "**Company**") (NASDAQ: CGBS), received a letter (the "**Letter**") from The NASDAQ Stock Market LLC ("**NASDAQ**") indicating that the staff had determined to delist the Company's securities from the Nasdaq Capital Market because (i) the closing bid price of its listed securities has not been at least $1.00 per share as required by Listing Rule 5550(a)(2), (ii) the Company's securities had a closing bid price of $0.10 or less for ten consecutive trading days as required by Listing Rule 5810(c)(3)(A)(iii), and (iii) the Company failed to timely file its Form 20-F for the period ended December 31, 2024 under Listing Rule 5250(c)(1).

As stated in the Letter, the Company is permitted to appeal the staff's decision by filing an appeal by June 6, 2025 (the "***Appeal Deadline***"). The Company plans to appeal of the determinations contained in the Letter before the Appeal Deadline. An appeal will stay the suspension of the Company's securities until the hearing occurs. The Company plans to appeal the delisting determinations under the procedures set forth in the Nasdaq Listing Rule 5800 Series, no later than the Appeal Deadline. The Company may also pursue a reverse share split to regain compliance.

The Company may not be successful in obtaining a favorable decision from the Nasdaq Hearings Panel in its appeal. Furthermore, no assurances can be provided that the Company will be able to regain or maintain compliance with the Nasdaq listing rules and continue the listing of its securities on Nasdaq.

**Forward Looking Statements** 

This update includes forward-looking statements that involve risks and uncertainties, including the Company's ability to regain compliance with NASDAQ Listing Rule 5250(c)(1). Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in any subsequent filings with the Securities and Exchange Commission (the "**SEC**"). Copies are available on the SEC's website, www.sec.gov. Crown expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in Crown's expectations or any change in events, conditions or circumstances on which any statement is based.

**About Crown LNG Holdings Limited** 

Crown LNG is a leading provider of offshore LNG liquefaction and regasification terminal infrastructure solutions for harsh weather locations, which represent a significant addressable market for bottom-fixed, gravity based liquefaction and floating storage regasification units, as well as associated green and blue hydrogen, ammonia and power projects. Through this approach, Crown aims to provide lower carbon sources of energy securely to under-served markets across the globe. Visit <u>www.crownlng.com/investors</u> for more information.

**Contacts** 

***Investors***

Caldwell Bailey

ICR, Inc.

<u>CrownLNGIR@icrinc.com</u> 

***Media***

Zach Gorin

ICR, Inc.

<u>CrownLNGPR@icrinc.com</u>