HAMILTON, Bermuda, Oct 08, 2021 (GLOBE NEWSWIRE) – SHL Holdings Ltd. (“SHL” or the “Company”) responded today to recent shareholder inquiries regarding changes in its share price and trading activities.
On September 28, 2021, an amendment to rule 15c2-11 under the Securities Exchange Act of 1934, as amended, came into effect. 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 listed. As part of SHL’s approved liquidation plan, the Company prepares a statement of net assets and changes in net assets on a liquidation basis, in accordance with generally accepted accounting principles in the United States (“US GAAP”). ). These basic liquidation financial statements do not meet the requirements of amended Rule 15c2-11 and the OTC Guidelines to maintain the Company’s current status in the OTC Pink Market. As a result, trading of SHL shares has been moved to the OTC expert market and no public stock quote is provided.
The Company will continue to prepare its financial statements in accordance with US GAAP and publish them quarterly on its website www.shlholdings.com under the Investor Relations tab.
This press release contains statements about future results, plans and events that may constitute “forward-looking” statements within the meaning of US federal securities laws. The Company warns you that forward-looking information presented in this press release does not constitute a guarantee of future events and that actual events may differ materially from those contained or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements can generally be identified by the use of forward-looking terms such as “may”, “plan”, “seek”, “comfortable with”, “will”, “expect”, “Intend”, “estimate”, “anticipate”, “believe” or “continue” or their negative or their variations or similar terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the control of the Company. These risks and uncertainties include, without limitation, the factors described in the Company’s GAAP financial statements published 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 on which they are made. The Company does not undertake to update any forward-looking statements to reflect the effect of circumstances or events occurring after the date on which the forward-looking statements are made.
Source: SHL Holdings Ltd.