BERLIN (Reuters) -Switzerland's stock exchange operator SIX will delist all registered shares in Meyer Burger after the solar panel maker looks set to miss a deadline to submit its 2024 annual report,
SIX Exchange to Remove Meyer Burger Shares Amid Reporting Delays
BERLIN (Reuters) -Switzerland's stock exchange operator SIX will delist all registered shares in Meyer Burger after the solar panel maker looks set to miss a deadline to submit its 2024 annual report, the operator's SER regulation firm said on Tuesday.
The reasons for the delayed annual report have not been addressed, said SER, and are unlikely to be resolved within the requested deadline, leading to the request to delist shares.
The decision is not yet legally binding and can be appealed within 20 days, SER said.
Meyer Burger, whose operations in Europe and the United States have struggled to compete with cheaper products imported from Asia, said it would provide further information on what steps it would take next "in due course."
In May, the firm announced it was shutting down its U.S. factory in Arizona due to financial difficulties, and soon afterwards filed for insolvency for its German subsidiaries.
Trading in Meyer Burger shares, which has been halted for three months, remains suspended for the time being, SER said.
(Writing by Miranda Murray; Editing by Jamie Freed and Rashmi Aich)
