Logitech International (SIX:LOGN) (Nasdaq:LOGI) today announced that the
SIX Swiss Exchange has granted the Company an extension – until August
29, 2014 – for publishing and submitting its Annual Report for Fiscal
Year 2014. Logitech’s Annual Report was previously scheduled to be
published by July 31, 2014.
As previously disclosed, Logitech’s Audit Committee, with the assistance
of independent advisors, is conducting an independent investigation of
certain accounting matters related to the Company’s previously issued
financial statements. Related to the Audit Committee’s investigation,
the Company is performing additional work associated with its Fiscal
Year 2014 Annual Report on Form 10-K, which might result in adjustments
to the previously issued financial statements. The Audit Committee has
not reached any conclusion because the investigation is ongoing. Due to
the investigation and the additional work being performed, Logitech has
not yet filed its Fiscal Year 2014 Annual Report on Form 10-K with the
U.S. Securities and Exchange Commission (SEC), and this delay also
impacts the Annual Report for Fiscal Year 2014 that is published and
submitted to the SIX Swiss Exchange.
The SIX Swiss Exchange reserves the right to suspend trading of Logitech
shares if Logitech does not publish its Annual Report by August 29, 2014
or receive an additional extension from the SIX Swiss Exchange.
Logitech’s initial request to the SIX Swiss Exchange was for a longer
extension – beyond August 29, 2014 – to enable the Company to complete
the investigation and the additional work for the Annual Report. That
initial request has been stayed. In early August, Logitech plans to
submit to Nasdaq and to the SIX Swiss Exchange a plan to regain
compliance with listing requirements for each stock exchange. Once the
plan is submitted to the SIX Swiss Exchange, Logitech may renew its
request for a longer extension based on the compliance plan and the
Company’s ongoing independent investigation and related additional work.
Logitech continues to devote significant resources to complete and file
all required periodic reports with the SEC and SIX Swiss Exchange as
soon as possible following completion of the investigation.
The SIX Swiss Exchange has requested that Logitech publish the following
information:
IIa. SIX Exchange Regulation reserves the right to suspend the trading
in the shares in (of) Logitech International S.A. in case (I) the 2014
annual report is not published until (by) Friday, 29 August 2014, 11.59
pm CET, at the latest, in accordance with the provisions regarding ad
hoc publicity (art. 53 of the Listing Rules [LR] in connection with the
Directive on Ad hoc Publicity [DAH]), and (II) the application of 22
July 2014 for extension of the deadline for the publication and the
filing of the 2014 annual report, which has been stayed until 29 August
2014, has not been granted by SIX Swiss Exchange by 29 August 2014.
IIb. Logitech International S.A. is required to publish a notice in
accordance with the provisions regarding ad hoc publicity until (by)
Tuesday, 29 July 2014, 7.30 am CET, at the latest. The ad hoc notice
must contain a reproduction of the wording of cif. II lit. a and b of
this decision and the reasons for which Logitech International S.A. was
not able to publish its 2014 annual report until (by) 31 July 2014.
About Logitech
Logitech is a world leader in products that connect people to the
digital experiences they care about. Spanning multiple computing,
communication and entertainment platforms, Logitech’s combined hardware
and software enable or enhance digital navigation, music and video
entertainment, gaming, social networking, audio and video communication
over the Internet, video security and home-entertainment control.
Founded in 1981, Logitech International is a Swiss public company listed
on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market
(LOGI).
Logitech, the Logitech logo, and other Logitech marks are registered in
Switzerland and other countries. All other trademarks are the property
of their respective owners. For more information about Logitech and its
products, visit the company’s Web site at www.logitech.com.
(LOGIIR)
Copyright Business Wire 2014