Founder Group Ltd

Founder Group Limited (NASDAQ: FGL) announced it has regained compliance with Nasdaq's minimum publicly held shares requirement. The company received confirmation from Nasdaq on October 19, 2026, after previously being notified of non-compliance. The Nasdaq Capital Market listing rule requires a minimum of 500,000 publicly held shares, and FGL confirmed it holds 541,791 publicly held shares as of October 9, 2026, closing this matter.

Founder Group Limited (FGL) announced a 100 for 1 share consolidation, effective September 1, 2026. This corporate action is intended to ensure the company remains in compliance with Nasdaq listing requirements. Following the consolidation, the number of outstanding Class A shares will be approximately 73,693 and Class B shares approximately 1,865. Shareholders will not need to take action, and fractional shares will be rounded up.

Founder Group Limited's subsidiary, Founder Energy Sdn Bhd, has secured a turn-key EPCC contract valued at approximately RM5.58 million ($1.37 million). The contract is to build a 1.78 MW-peak rooftop solar system for a shrimp farming and processing plant in Ayer Hitam, Kedah, Malaysia. This project marks the company's second major clean energy initiative in the agricultural sector and its first combining a shrimp farm with a processing plant, aligning with Malaysia's renewable energy goals and expanding Founder Group's footprint in the region.

Founder Group Limited approved one-time special discretionary bonuses totaling US$100,000 for its Chairman and CEO, Mr. Lee Seng Chi, and Director, Mr. Thien Chiet Chai. These awards were granted in recognition of their past contributions to the company. The bonuses were satisfied by the issuance of 50,000 Class B ordinary shares.

Founder Group Ltd. secured up to $20 million in pre-paid purchase financing from Avondale Capital, LLC, issuing an initial $1.08 million pre-paid purchase on July 6, 2026. This initial purchase included a $70,000 original issue discount and $10,000 in transaction expenses. Separately, the company exchanged an $8 million secured convertible promissory note with Streeterville Capital for a new $8 million secured non-convertible note bearing 6% annual interest and maturing on December 11, 2027.

Founder Group Limited (FGL) announced on April 10, 2026, that it has successfully regained compliance with The Nasdaq Stock Market LLC's minimum publicly held shares requirement. The company received official confirmation on April 9, 2026, from Nasdaq's Listing Qualifications Department regarding its adherence to Listing Rule 5550(a)(4). This development is crucial for FGL as it removes the immediate threat of delisting, thereby stabilizing its trading status on Nasdaq and potentially bolstering investor confidence in the company's market presence. FGL operates as a pure-play, end-to-end EPCC solutions provider for solar PV facilities in Malaysia, with a primary focus on large-scale and commercial and industrial (C&I) solar projects.