VSTD News & Events

Vestand Incorporated received a Staff Delisting Determination letter from the Listing Qualifications Department of The Nasdaq Stock Market on May 19, notifying the Company that Nasdaq has initiated a process which could result in the delisting of the Company's securities. The Staff Determination was issued as a result of the Company not being in compliance with Listing Rule 5250 because it has not filed its Form 10-Q for the period ended September 30, 2025, its Form 10-K for the year ended December 31, 2025, and its Form 10-Q for the period ended March 31. The Staff Determination has no immediate effect and will not immediately result in the suspension of trading or delisting of the Company's securities. On May 22 the Company submitted a request for a hearing before the Nasdaq Hearings Panel to appeal the Staff Determination (the "Hearing Request"). Hearings are typically scheduled to occur approximately 30 to 45 days after the date of a hearing request. The Hearing Request will automatically stay the suspension of the Company's securities for a period of 15 days from the date of the request. However, in connection with the Hearing Request, the Company also requested that the Staff Determination be further stayed pending the hearing process. The Company is working diligently to prepare and file the Delinquent Reports as soon as possible to regain compliance with the Rule.

Vestand received a notice from Nasdaq notifying the company that as it has not yet filed its quarterly report on Form 10-Q for the period ended September 30, the company no longer complies with Listing Rule 5250 for continued listing on Nasdaq.

Vestand appointed Jaeho Yoon as CFO, succeeding Ju Hwan Oh who has stepped down from the role, and appointed Andrew Yun as its new Chief Compliance Officer, who currently serves on the Board of Directors, both effective immediately. Jaeho Yoon most recently served as a senior manager in the corporate planning team of BGF EcoMaterials where he oversaw company-wide management reporting and managed subsidiaries in the U.S., China, and India. He also served as a manager in the new business development team of BGF Holdings. Mr. Yoon has also served as a senior consultant at Rolan Berger Strategic Consultants, Seoul, and as a consultant at Deloitte Consulting Southeast Asia. Andrew Yun joined Vestand as a Director in October. Yun is the managing partner of Yun Law Group, and his practice is focused on all matters related to business including business transactions, corporate governance, and mergers and acquisitions. Prior to founding Yun Law Group, Yun was senior legal counsel to the largest energy and electronics conglomerates in the world.

Vestand announced the appointment of Andrew Yun to the Company's Board of Directors, effective immediately. Yun is the managing partner of Yun Law Group