Codere Online has requested a hearing to review a decision from the Nasdaq Stock Market to delist its shares.
The stock exchange wants to halt trading on the online gaming operator’s shares because of the delay in filing 2024 audited results.
Codere has swiftly appealed to the letter, which it received last Friday, May 16, insisting that the departure of its previous auditor – and the transition period for the new auditor – has caused the delay.
The hearing will occur in the next 30-45 days.
Codere Online’s request for a hearing has delayed the delisting, and the company can also request a further stay of the suspension of trading through the duration of the hearing process.
However, if Nasdaq does not grant the further stay of the suspension of trading of Codere’s securities, trading will be suspended on June 6.
“The company continues to work diligently to complete and file with the SEC the 2024 Form 20-F and believes it will be able to do so, thereby regaining compliance with the Public Reports Rule, on or prior to May 30, 2025, ahead of any hearing, and in any event within the extension period the Company plans to seek from the Hearings Panel,” Codere said.
