On November 19, 2024, VivoPower International received a letter from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market indicating that, due to the Company’s failure to file its Form 20-F for the period ending June 30, 2024, the Company no longer complies with Nasdaq Listing Rule 5250(c)(1) for continued listing. Nasdaq’s notice does not affect the Company’s current listing status, and the Company’s common stock remains listed on the Nasdaq Capital Market.
The Company has been provided a 60-calendar-day period, or until January 20, 2025, to submit a plan to regain compliance with the filing requirement.
In the event that the Company is unable to file the Form 20-F by the deadline, it will submit a compliance plan to Nasdaq by January 20, 2025, for Nasdaq’s review. After reviewing the plan, Nasdaq will contact the Company with any questions or comments and will provide written notice of its decision. If Nasdaq does not accept the compliance plan, the Company will have the opportunity to appeal Nasdaq’s decision to a Hearings Panel.
If Nasdaq accepts the compliance plan, the Company could be granted up to 180 calendar days from the Filing’s due date, or until May 19, 2025, to regain compliance with the filing requirement.
The Company remains confident in its ability to meet its filing obligations within the 60-day period. The ongoing audit is being conducted by the same auditors as in previous years. If required, the Company is prepared to take appropriate steps to submit a compliance plan.
This Press Release serves as the Company’s public disclosure of the Notice, in accordance with Nasdaq Listing Rule 5810(b). An indicator reflecting the Company’s non-compliance will be broadcast over Nasdaq’s market data dissemination network and will also be made available to third-party market data providers, and the Company will appear on Nasdaq’s list of non-compliant companies starting five business days after the date of the Notice. The Company will continue to monitor its filing requirements and is working diligently to submit the required Form 20-F to avoid the need for a compliance plan.
To read our full press release, and to keep up with all of VivoPower’s releases, visit our Press Releases page.
