Summary by Moomoo AI
Kaival Brands Innovations, a Delaware corporation, has been granted an extension by The Nasdaq Stock Market to hold its annual shareholder meeting, which it had previously failed to conduct within the required timeframe. The company, listed under the trading symbol KAVL, received a notice on November 7, 2023, from Nasdaq's Listing Qualifications Department, indicating that it did not meet the Nasdaq Listing Rule 5620(a) by not holding the annual meeting within twelve months after the fiscal year ended on October 31, 2022. However, this notice did not affect the company's listing or trading on Nasdaq. Following a submitted plan of compliance, Nasdaq has allowed Kaival Brands Innovations until April 29, 2024, to regain compliance by holding the overdue annual meeting. The company has confirmed its intention to meet this new deadline. The annual meeting will provide shareholders the opportunity to discuss company affairs and, if necessary, elect directors. The announcement was made by Barry Hopkins, the Executive Chairman and Interim Chief Executive Officer and President of Kaival Brands Innovations.