Graphex Group Limited Receives Extension from NYSE American
November 18, 2024
Hong Kong
Graphex Group Limited, also known as Graphex Group, announced today that it has received an extension from the NYSE American LLC for an additional period to regain compliance with the NYSE American listing rules for American Depository Shares (ADS). The Company did not timely file its Form 20-F for the year ended December 31, 2023, which resulted in the need for an extension.
The initial cure period for the Company to maintain its listing on the Exchange expired on November 15, 2024. However, the NYSE American has granted an Additional Cure Period until May 15, 2025, for the Company to regain compliance with the listing rules. The listing of the ADSs will continue on the Exchange during this time, as long as the Company meets other continued listing requirements and demonstrates efforts to regain compliance.
While the expiration of the initial cure period and the grant of the Additional Cure Period do not directly impact the Company’s business operations, it is essential for Graphex Group to file the Delayed Filing as soon as possible to ensure compliance with SEC regulations and rules.
Despite the extension, there is no guarantee that Graphex Group will ultimately regain compliance with all applicable Exchange listing standards. The Company is working diligently to meet the New Cure Deadline and fulfill its reporting obligations.
As an investor, it is essential to monitor Graphex Group’s progress in regaining compliance with the NYSE American listing rules. The Company’s ability to maintain its listing on the Exchange can impact the stock’s performance and overall investor confidence.
How it will affect me:
As an investor in Graphex Group, the extension received from NYSE American will impact my investment in the Company. It is crucial to closely follow Graphex Group’s efforts to regain compliance with the listing rules and meet the New Cure Deadline. The Company’s ability to maintain its listing on the Exchange can influence the stock’s performance and my investment returns.
How it will affect the world:
The extension granted to Graphex Group by NYSE American highlights the importance of regulatory compliance in the global financial markets. The Company’s efforts to regain compliance with listing rules can impact investor confidence and market stability. It is essential for companies to meet regulatory requirements to ensure transparency and trust in the financial system.
Conclusion:
In conclusion, Graphex Group Limited’s extension from NYSE American is a significant development for the Company and its stakeholders. As the Company works to regain compliance with listing rules, investors should monitor its progress closely. Regulatory compliance is crucial for maintaining market integrity and investor confidence, highlighting the importance of timely filings and adherence to listing standards.
