Kraft Heinz Receives Notification of Deficiency From Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q
May 21 2019 - 4:30PM
Business Wire
The Kraft Heinz Company (NASDAQ: KHC) (“Kraft Heinz” or the
“Company”) today announced that on May 17, 2019, as expected, Kraft
Heinz received a standard notice from Nasdaq stating that, as a
result of not having timely filed its Quarterly Report on Form 10-Q
for the quarter ended March 30, 2019 (the "Form 10-Q"), Kraft Heinz
continues to not be in compliance with Nasdaq Listing Rule
5250(c)(1), which requires timely filing of periodic financial
reports with the Securities and Exchange Commission. Kraft Heinz
previously received an initial notice on March 15, 2019 related to
the delay in timely filing its Annual Report on Form 10-K for the
fiscal year ended December 29, 2018 (the "Form 10-K").
Previously, Kraft Heinz timely submitted a plan to regain
compliance to Nasdaq and in the notice received on May 17, 2019,
Nasdaq also notified Kraft Heinz that it had been granted until
September 11, 2019 to regain compliance with Nasdaq Listing Rule
5250(c)(1) by filing the Form 10-K and Form 10-Q and complying with
certain other terms outlined in the notice. Kraft Heinz currently
expects to cooperate with Nasdaq to comply with such terms.
These notices do not have any immediate effect on the listing or
trading of Kraft Heinz’s common stock on the Nasdaq Global Select
Market.
ABOUT THE KRAFT HEINZ COMPANY
For 150 years, we have produced some of the world’s most beloved
products at The Kraft Heinz Company (NASDAQ: KHC). Our Vision is To
Be the Best Food Company, Growing a Better World. We are one of the
largest global food and beverage companies, with 2018 net sales of
approximately $26 billion. Our portfolio is a diverse mix of iconic
and emerging brands. As the guardians of these brands and the
creators of innovative new products, we are dedicated to the
sustainable health of our people and our planet. To learn
more, visit www.kraftheinzcompany.com or follow us on LinkedIn and
Twitter.
Forward-Looking Statements
This press release contains a number of forward-looking
statements. Words such as “expect," "may," and variations of such
words and similar future or conditional expressions are intended to
identify forward-looking statements. These forward-looking
statements include, but are not limited to, statements regarding
our beliefs and expectations relating to the filing of the Form
10-K and Form 10-Q and compliance with Nasdaq's listing rules and
with the requirements outlined by Nasdaq. These forward-looking
statements are not guarantees of future performance and are subject
to a number of risks and uncertainties, many of which are difficult
to predict and beyond our control. Important factors that may cause
actual results to differ materially from those in the
forward-looking statements include, but are not limited to, further
material delays in Kraft Heinz’s completion of its financial
reporting and in the filing of the periodic reports required to be
filed with the Securities and Exchange Commission, including the
possibility that the ongoing reviews may identify additional
errors, control deficiencies, misstatements, or material weaknesses
in the Company's accounting practices. We disclaim and do not
undertake any obligation to update or revise any forward-looking
statement in this press release, except as required by applicable
law or regulation.
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version on businesswire.com: https://www.businesswire.com/news/home/20190521005789/en/
Michael Mullen
(media)Michael.Mullen@kraftheinz.com
Christopher Jakubik, CFA
(investors)ir@kraftheinz.com
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