- Multi Ways Holdings (MWG, Financial) receives a Filing Deficiency Notification from NYSE for late submission of the 2024 Annual Report.
- The company has until May 30, 2025, to rectify the filing issue to avoid possible delisting.
- MWG continues trading with an "LF" late filer indicator during this compliance period.
Multi Ways Holdings Limited (MWG) has been notified of a deficiency by the New York Stock Exchange (NYSE) due to its failure to timely file its 2024 Annual Report on Form 20-F. As a result, MWG is currently not in compliance with the NYSE American's continued listing standards.
The company is granted an Initial Cure Period of six months starting from May 16, 2025, to address this issue. If MWG fails to meet this deadline, the NYSE may offer an Additional Cure Period of up to six more months or initiate suspension and delisting procedures.
Management attributes the delay to extra time necessary for finalizing financial disclosures. They are actively working with auditors and aim to file the report by May 30, 2025. In the interim, the company's stock will continue to trade on the NYSE American but will carry a ".LF" indicator to signal its late filer status.
This development underscores significant challenges in MWG's financial reporting processes, which could potentially affect investor confidence if compliance is not achieved within the specified timeframes. The company’s ongoing trading status and financial health may be impacted if the regulatory requirements are not met.
