HAMILTON, Bermuda, Oct. 08, 2023 (GLOBE NEWSWIRE) — SHL Holdings Ltd. (“SHL” or the “Company”) today addressed recent inquiries from shareholders regarding its stock price movement and trading activity.
On September 28, 2023, an amendment to Rule 15c2-11 under the Securities Exchange Act of 1934, as amended, became effective. The amendment requires companies listed on the OTC Pink Market to provide current public financial information, which includes certain financial statements, in order to be quoted. As part of SHL’s approved Plan of Liquidation, the Company prepares a Statement of Net Assets and Changes in Net Assets on a liquidation basis, in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”). These liquidation basis financial statements do not meet the requirements of the amended Rule 15c2-11 and OTC guidelines to maintain the Company’s current status on the OTC Pink Market. As a result, trading of SHL’s shares have been moved to the OTC Expert Market and no public stock quotes are being provided.
The Company will continue to prepare its financial statements in accordance with US GAAP and post on a quarterly basis to its website www.shlholdings.com under the Investor Relations tab.
Important Information
This press release contains statements about future results, plans and events that may constitute “forward-looking” statements within the meaning of the U.S. federal securities laws. The Company cautions you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “comfortable with,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s control. These risks and uncertainties include, but are not limited to, the factors described in the Company’s GAAP financial statements posted on its website at www.shlholdings.com. Readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect the effect of circumstances or events that arise after the date the forward-looking statements are made.
Contact
Scott Beinhacker
1-212-478-3699
[email protected]
Source: SHL Holdings Ltd.
