Eros Receives NYSE Extension for Annual Report Filing
August 03 2022 - 4:42PM
Business Wire
Eros Media World Plc (NYSE: EMWP) (“Eros”, the “Company”) today
announced that the New York Stock Exchange (the “NYSE”) has granted
the Company an extension through August 17, 2022, subject to
reassessment on an ongoing basis, to complete and file with the
Securities and Exchange Commission its annual report on Form 20-F
for the fiscal year ended March 31, 2021 (the “2021 20-F”) and the
Company’s Semi-Annual Report on Form 6-K for the six months ended
September 30, 2021 including the unaudited financial statements to
be contained therein (the “2022 HY 6-K”).
The NYSE has notified the Company that it will closely monitor
the Company’s progress with the interim milestones the Company
previously submitted to the NYSE and that failure to achieve these
interim milestones could potentially result in an accelerated
trading suspension prior to August 17, 2022.
In addition, in the event that the Company does not complete its
Delayed Filings and any subsequent delayed filings with the SEC by
the end of the maximum 12-month cure period on August 17, 2022, the
NYSE will move forward with the initiation of suspension and
delisting procedures. NYSE will also continue to monitor the
Company’s progress on its other delayed filings as part of
continued listing assessment, and will maintain the “LF” indicator
on the Company’s securities and include the Company on the “late
filer” list on www.nyse.com until such time as the Company is
current with all of its periodic SEC filings.
About Eros
Media World Plc: Eros Media World Plc, (“Eros”, the
“Company”) (NYSE: EMWP) is a global media and entertainment company
that acquires, co-produces and distributes films, digital content
and music across multiple formats such as theatrical, television,
OTT digital media streaming and emerging web 3.0 ecosystem to
consumers around the world. The Company also owns the leading South
Asian OTT platform Eros Now, which has rights to over 12,000 films
across major Indian languages. For further information, please
visit www.ErosMediaWorld.com.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Information provided in this communication includes
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, or the Securities Act, and
Section 21E of the Securities Exchange Act of 1934, as amended, and
such statements are subject to the safe harbors created thereby.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as “approximately,”
“anticipate,” “believe,” “estimate,” “continue,” “could,” “expect,”
“future,” “intend,” “may,” “plan,” “potential,” “predict,”
“project,” “seek,” “should,” “will”, “trending” and similar
expressions. Those statements include, among other things, the
discussions of the Company’s business strategy and expectations
concerning its and the Company’s market position and future
operations. All such forward-looking statements are subject to
risks and uncertainties that may cause actual results to differ
materially from those that we are expecting, including, without
limitation: our ability to successfully and cost-effectively source
film content; the Company’s ability to achieve the desired growth
rate of Eros Now; our ability to maintain or raise sufficient
capital; delays, cost overruns, cancellation or abandonment of the
completion or release of the Company’s films; our ability to
predict the popularity of its films, or changing consumer tastes;
our ability to maintain existing rights, and to acquire new rights,
to film content; our ability to successfully defend any future
class action lawsuits we are a party to in the U.S.; anonymous
letters to regulators or business associates or anonymous
allegations on social media regarding the Company’s business
practices, accounting practices and/or officers and directors; our
ability to recoup the full amount of box office revenues to which
it is entitled due to underreporting of box office receipts by
theater operators; our dependence on our relationships with theater
operators and other industry participants to exploit the Company’s
film content; our ability to mitigate risks relating to
distribution and collection in international markets; our ability
to compete with other forms of entertainment; our ability to combat
piracy and to protect our intellectual property; our ability to
maintain an effective system of internal control over financial
reporting; contingent liabilities that may materialize, our
exposure to liabilities on account of unfavorable
judgments/decisions in relation to legal proceedings involving the
Company or its subsidiaries and certain of its directors and
officers; our ability to successfully respond to technological
changes; our ability to satisfy debt obligations, fund working
capital and pay dividends; the monetary and fiscal policies of
countries around the world, inflation, deflation, unanticipated
turbulence in interest rates, foreign exchange rates, equity prices
or other rates or prices; our ability to address the risks
associated with acquisition opportunities; risks that the ongoing
coronavirus pandemic and its spread, and related public health
measures, may have material adverse effects on our business,
financial position, results of operations and/or cash flows;
uncertainty as to the long-term value of the Company’s ordinary
shares; the completion of the Company’s fiscal 2021 audit and
filing of its Annual Report on Form 20-F.
The forward-looking statements contained in this communication
are based on historical performance and management’s current plans,
estimates and expectations in light of information currently
available and are subject to uncertainty and changes in
circumstances. There can be no assurance that future developments
affecting the Company will be those that it has anticipated. Actual
results may differ materially from these expectations due to
changes in global, regional or local political, economic, business,
competitive, market, regulatory and other factors, many of which
are beyond the Company’s control. Should one or more of these risks
or uncertainties materialize or should any of the Company’s
assumptions prove to be incorrect, the Company’s actual results may
vary in material respects from what the Company may have expressed
or implied by these forward-looking statements. The Company
cautions that you should not place undue reliance on any of its
forward-looking statements. Any forward-looking statement made by
the Company in this communication speaks only as of the date on
which the Company makes it. Factors or events that could cause the
Company’s actual results to differ may emerge from time to time,
and it is not possible for the Company to predict all of them. The
Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20220803005993/en/
Priyank Dubey EMWP- PR & External Affairs
priyank.dubey@erosintl.com
Eros Media World (NYSE:EMWP)
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