Suntech Receives Another Notice From The NYSE

Posted by SI Staff on May 14, 2013 No Comments
Categories : FYI

Suntech Power Holdings Co. Ltd. has received a notification from the New York Stock Exchange (NYSE) that it has failed to timely file its Form 20-F for the fiscal year ended Dec. 31, 2012.

The company had previously announced on May 1, 2013, that it required additional time to complete its 2012 Annual Report and will delay the filing beyond the deadline of April 30, 2013. Suntech says it is working diligently to complete these assessments and file restated financials for 2010 and 2011, as well as the 2012 Annual Report, as soon as practicable.

This latest notification follows a separate delisting warning the NYSE issued to Suntech in April. Suntech's major subsidiary in China, Wuxi Suntech Power Co. Ltd., filed for insolvency in March.

Suntech says the NYSE has indicated that it will closely monitor the status of the company's late filing and related public disclosures for up to a six-month period from its due date. If the company fails to file its annual report within six months from the filing due date, Suntech says the NYSE may allow the company's securities to trade for up to an additional six months.

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