Zecotek to delay Q3 results filing until Aug. 13
2020-06-29 19:33 ET - News Release
Mr. Faouzi Zerrouk reports
ZECOTEK ANNOUNCES DELAY IN FILING OF ITS APRIL 30, 2020 FINANCIAL REPORTS PURSUANT TO CSA INSTRUMENTS GOVERNING RELIEF DUE TO COVID-19 (BC INSTRUMENT 51-517 AND ALBERTA BLANKET ORDER 51-519)
Due to circumstances created by the COVID-19 pandemic, Zecotek Photonics Inc. will not file its financial statements for the nine months ended April 30, 2020, by the scheduled due date of June 29, 2020 (as required by Section 4.4(b) of National Instrument 51-102), or management's discussion and analysis covering the same period (as required by Section 5.1(2) of National Instrument 51-102). The Company has been experiencing delays in obtaining financial information from its operating entities in China due to the earlier onset of the COVID-19 virus in that part of the world and the resulting impact on business operations there. The manufacturing facility in China has been closed since January 25, 2020. The Company has also been adjusting to circumstances relating to the more recent outbreak of the pandemic in North America. The Company is working with its operating entities to assist with the preparation of the required financial information and hopes to file the required financial reports as soon as possible.
As required by BC Instrument 51-517 and Alberta Blanket Order 51-519, the Company discloses the following:
- The Company's management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 until its Financial Statements for the nine months ended April 30, 2020 and the related the Management Discussion and Analysis (the "Financial Reports") have been filed;
- The Company expects to file the Financial Reports on or about August 13, 2020; and
- Other than as previously disclosed by the Company, there have been no material business developments since the date of the Company's most recent filing of its interim Financial Statements and Management Discussion and Analysis.
We seek Safe Harbor.
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