VIA optronics AG Announces Intention to Voluntarily Delist its ADSs from the New York Stock Exchange
09 Abril 2024 - 4:00PM
Business Wire
VIA optronics AG (NYSE: VIAO) (“VIA” or the “Company”), a
leading supplier of interactive display solutions, today announced
its intention to voluntarily delist its American Depository Shares
(“ADSs”) from the New York Stock Exchange (“NYSE”) and terminate
its registration with the U.S. Securities and Exchange Commission
(“SEC”).
The Company today notified the NYSE of its intent to voluntarily
delist its ADSs from the NYSE, pursuant to a resolution adopted by
its Supervisory Board today.
The Company believes that delisting and deregistration of the
ADSs from the U.S. public markets will be more economical for the
Company, taking into account the low liquidity of its ADSs and the
high costs of maintaining the NYSE listing and SEC registration on
an annual basis. The Company further believes that delisting and
deregistration, and consequently the suspension of its SEC
reporting obligations, will allow the Company to allocate resources
more efficiently to execute its current business strategy by
enabling its management and employees to focus more on managing the
Company’s businesses and strengthening relationships with customers
and business partners.
The Company currently anticipates that it will file with the SEC
a Form 25 relating to the delisting and deregistration of its ADSs
on or around April 19, 2024. Unless the Form 25 is earlier
withdrawn by VIA, the delisting of the ADSs will be effective 10
days after the filing of the Form 25. Accordingly, VIA anticipates
that the last day of trading of the ADSs on the NYSE will be on or
about April 29, 2024.
Following the delisting of its ADSs from NYSE and after the
Company has made all necessary SEC filings, including its delayed
annual report on Form 20-F for the year ended December 31, 2022,
and is otherwise able to do so, the Company plans to file with the
SEC a Form 15 to deregister its ADSs, and suspend its reporting
obligations, under the U.S. Securities Exchange Act of 1934, as
amended. The process for delisting from the NYSE, suspending SEC
reporting obligations and terminating the ADS program is expected
to take time, require filings and notifications, and compliance
with certain requirements. VIA cannot provide assurances at this
time as to whether or when these actions will be consummated.
As previously disclosed, the Company received notice from the
NYSE that it is not currently in compliance with the continued
listing standards of the NYSE.
About VIA:
VIA is a leading provider of interactive display solutions for
multiple end markets in which superior functionality or durability
is a critical differentiating factor. Its customizable technology
is well-suited for high-end markets with unique specifications and
demanding environments that pose technical and optical challenges
for displays, such as bright ambient light, vibration and shock,
extreme temperatures, and condensation. VIA’s interactive display
systems combine system design, interactive displays, software
functionality, cameras, and other hardware components. VIA’s
intellectual property portfolio, process know-how, optical bonding,
metal mesh touch sensor and camera module technologies provide
enhanced display solutions built to meet the specific needs of its
customers.
Forward Looking Statement Disclosure:
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
“forward-looking statements.” These statements include, but are not
limited to, statements relating to: the Company’s expectations as
to the timing of its delisting and deregistration process; the
anticipated benefits and cost savings of such actions; and other
statements that are not historical facts. The words, without
limitation, “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “plan,” “potential,”
“predict,” “project,” “should,” “target,” “will,” “would” and
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these or similar identifying words. Forward-looking statements are
based largely on our current expectations and projections about
future events and financial trends that we believe may affect our
financial condition, results of operations, business strategy,
short-term and long-term business operations and objectives, and
financial needs. These forward-looking statements involve known and
unknown risks, uncertainties, changes in circumstances that are
difficult to predict and other important factors that may cause our
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statement. Important
factors that could cause actual events to differ materially from
those in the forward-looking statements herein include actions
taken or to be taken by the Supervisory Board or the Company’s
auditors in connection with the Supervisory Board’s findings with
respect to the previously disclosed investigation. In particular,
the Supervisory Board’s findings may continue to adversely affect
the Company’s ability to file the 2022 20-F and other required
reports with the SEC in the anticipated time frame or at all. Other
important factors include the risks described under Item 3. “Key
Information—D. Risk Factors,” in our Annual Report on Form 20-F for
the financial year ended December 31, 2021, as filed with the SEC.
Moreover, new risks emerge from time to time. It is not possible
for our management to predict all risks, nor can we assess the
impact of all factors on our business or the extent to which any
factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements we may make. In light of these risks, uncertainties and
assumptions, the forward-looking events and circumstances discussed
in this release may not occur and actual results could differ
materially and adversely from those anticipated or implied in the
forward-looking statements. We caution you therefore against
relying on these forward-looking statements, and we qualify all of
our forward-looking statements by these cautionary statements. Any
forward-looking statements contained in this press release are
based on the current expectations of VIA’s management team and
speak only as of the date hereof, and VIA specifically disclaims
any obligation to update any forward-looking statement, whether as
a result of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240409050064/en/
Investor Relations for VIA: Griffin Morris Margaret Jones
Alpha IR Group Phone: +1 312-445-2870 Email: VIAO@alpha-ir.com
Media: Alexandra Müller-Pl�tz Phone: +49-911-597 575-302
Email: AMueller-Ploetz@via-optronics.com
VIA optronics (NYSE:VIAO)
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VIA optronics (NYSE:VIAO)
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De Ene 2024 a Ene 2025