Codere Online Receives Nasdaq Notice Related to Late Filing of its Form 20-F
May 21 2024 - 4:05PM
Luxembourg, Grand Duchy of Luxembourg,
May 21, 2024 – (GLOBE NEWSWIRE) Codere Online Luxembourg,
S.A. (“Codere Online” or the “Company”) (Nasdaq: CDRO / CDROW),
today announced that it has received a letter from the Nasdaq Stock
Market, dated May 20, 2024 (the “Letter”), notifying the Company
that it is not in compliance with the requirements for continued
listing set forth in Nasdaq Listing Rule 5250(c)(1) because it did
not timely file its annual report on Form 20-F for the year ended
December 31, 2023 (the “2023 20-F”).
In accordance with Nasdaq Listing Rules, the
Company has 60 calendar days from the date of the Letter to submit
a plan to regain compliance with Nasdaq Listing Rules (the
“Compliance Plan”). If Nasdaq accepts the Compliance Plan, Nasdaq
may grant the Company an extension until November 11, 2024 to
regain compliance. If Nasdaq does not accept the Compliance Plan,
the Company will have the opportunity to appeal that decision to
the Nasdaq Hearings Panel. As previously communicated in its May 1,
2024 notification of late filing on Form 12b-25, the Company is
working diligently to complete the preparation and review of its
financial statements and intends to either file its 2023 20-F or
submit the Compliance Plan within the prescribed 60-day period.
This announcement is made in compliance with
Nasdaq Listing Rule 5810(b), which requires prompt disclosure of
receipt of a deficiency notification.
About Codere Online Codere Online refers,
collectively, to Codere Online Luxembourg, S.A. and its
subsidiaries. Codere Online launched in 2014 as part of the
renowned casino operator Codere Group. Codere Online offers online
sports betting and online casino through its state-of-the art
website and mobile applications. Codere currently operates in its
core markets of Spain, Mexico, Colombia, Panama and the City of
Buenos Aires (Argentina). Codere Online’s online business is
complemented by Codere Group’s physical presence in Spain and
throughout Latin America, forming the foundation of the leading
omnichannel gaming and casino presence.
Forward-Looking Statements
Certain statements in this press release may constitute
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements include,
but are not limited to, statements regarding the Company or its
management team’s expectations, hopes, beliefs, intentions or
strategies regarding the future, including the Company’s
expectations about the timing of completion and filing of the 2023
20-F, statements related to the Company’s Plan, and timing and
actions taken to regain compliance with Nasdaq.
These forward-looking statements are based on
information available as of the date of this document and current
expectations, forecasts and assumptions, and involve a number of
judgments, risks and uncertainties. Accordingly, forward-looking
statements should not be relied upon as representing the Company’s
or its management team’s views as of any subsequent date, and the
Company does not undertake any obligation to update forward-looking
statements to reflect events or circumstances after the date they
were made, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities
laws.
As a result of a number of known and unknown
risks and uncertainties, the Company’s actual results or
performance may be materially different from those expressed or
implied by these forward-looking statements. There may be
additional risks that the Company does not presently know or that
the Company currently believes are immaterial that could also cause
actual results to differ from those contained in the
forward-looking statements. Additional information concerning
certain of these and other risk factors is contained in Codere
Online’s filings with the U.S. Securities and Exchange Commission
(the “SEC”). All subsequent written and oral forward-looking
statements concerning Codere Online or other matters and
attributable to Codere Online or any person acting on their behalf
are expressly qualified in their entirety by the cautionary
statements above.
For investor and media inquiries, please
contact:
Guillermo Lancha Director, Investor Relations
and CommunicationsGuillermo.Lancha@codere.com(+34) 628 928 152