Nasdaq Determines Tritium Will Not Appeal Delisting Decision

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GlobeNewswire 3w ago

Nasdaq Determines Tritium Will Not Appeal Delisting Decision - GlobeNewswire

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Administrator Requests Halt in Trading of SecuritiesBRISBANE, Australia, May 22, 2024 (GLOBE NEWSWIRE) -- Tritium DCFC Limited¹ (OTC: DCFCQ) ("Tritium” or the "Company”), a global developer and manufacturer of direct current ("DC”) fast chargers for electric vehicles, previously reported, on April 18, 2024, that the Company and three of its Australian subsidiaries, Tritium Pty Ltd², Tritium Holdings Pty Ltd³ and Tritium Nominee Pty Ltd⁴ (together with the Company, the "Companies”) (i) were insolvent or likely to become insolvent, (ii) a voluntary administrator should be appointed under the Australian Corporations Act 2001 (the "Act”), and (iii) to appoint Peter James Gothard, James Douglas Dampney and William Martin Colwell of KPMG as joint and several administrators (together, the "Administrators”) pursuant to section 436A of the Act.

On April 18, 2024, following the Company’s report of the foregoing information, the Nasdaq Stock Market LLC ("Nasdaq”) delivered to the Company a Staff determination letter, providing that Nasdaq had determined that the Company’s securities would be delisted from Nasdaq, trading of the Company’s ordinary shares and warrants would be suspended at the opening of business on April 22, 2024, and Nasdaq would file a Form 25-NSE with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on Nasdaq.

On May 12, 2024, Nasdaq advised the Company that, pursuant to Nasdaq’s obligations under Nasdaq Listing Rule 5830 and Rule 12d2-2 promulgated under the Securities Exchange Act of 1934, as amended, Nasdaq would issue a press release on May 15, 2024, stating, among other things, that the Company’s ordinary shares and warrants would be delisted from Nasdaq, Nasdaq would file a Form 25 with the SEC, and the delisting would become effective ten days after the Form 25 is filed.