BEIJING, May 20, 2021 /PRNewswire/ -- Renren
Inc. (NYSE: RENN) ("Renren" or the "Company") today announced
that it received a notice from NYSE Regulation indicating that the
Company is not in compliance with Section 802.01E of the NYSE
Listed Company Manual as a result of its failure to timely file its
Annual Report on Form 20-F for the year ended December 31,
2020 (the "2020 Form 20-F") with the Securities and Exchange
Commission (the "SEC").
The Company was not able to file the 2020 Form 20-F by its due
date primarily due to the additional time required to prepare the
Company's audited financial statements for the year ended
December 31, 2020, as set forth in
the Form 12b-25 submitted to the SEC on April 30, 2021. The
Company is making all efforts to file the 2020 Form 20-F as soon as
possible.
NYSE Regulation notified the Company that the NYSE will closely
monitor the status of the Company's late filing and related public
disclosures for up to a six-month period from the due date of the
annual report. If the Company fails to file its annual report and
any subsequent delayed filings within six months from the filing
due date, the NYSE may, in its sole discretion, allow the Company's
securities to trade for up to an additional six months depending on
specific circumstances, as outlined in Section 802.01E of the NYSE
Listed Company Manual. It is expected by the NYSE that the Company
will submit an official request for NYSE's consideration at the
appropriate time. If the NYSE determines that an additional
six-month trading period is not appropriate, suspension and
delisting procedures will commence pursuant to Section 804.00 of
the NYSE Listed Company Manual.
About Renren Inc.
Renren Inc. (NYSE: RENN) operates several US-based SaaS
businesses. Renren's American depositary shares, each of
which currently represents 45 Class A ordinary shares, trade
on NYSE under the symbol "RENN".
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of
the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar
statements. Renren may also make written or oral
forward-looking statements in its filings with the U.S.
Securities and Exchange Commission (the "SEC"), in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about Renren's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Further
information regarding these and other risks is included in our
annual report on Form 20-F and other documents filed with
the SEC. All information provided in this press release is as
of the date of this press release, and Renren does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law.
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SOURCE Renren Inc.