Global Indian media and entertainment company Eros Media World PLC (NYSE: EMWP), has announced that a hearing to appeal delisting proceedings initiated by the New York Stock Exchange has been rescheduled from December 15, 2022 to April 13, 2023.
Eros acquires, co-produces and distributes films, digital content and music across multiple formats such as theatrical, television, OTT digital media streaming and emerging Web 3.0 ecosystem to consumers around the world. The Company also owns the leading South Asian OTT platform Eros Now, which has rights to over 12,000 films across major Indian languages.
NYSE Regulation announced in August 2022 a determination to commence proceedings to delist the A Ordinary Shares of Eros Media World Plc with trading in the Company’s A Ordinary Shares suspended.
NYSE Regulation says it reached its decision that the Company’s A Ordinary Shares are not suitable for listing, because the Company is a late filer and has not filed with the Securities and Exchange Commission (SEC) its annual report on Form 20-F for the year ended March 31, 2021, current report on Form 6-K for the half year ended September 30, 2021 and annual report on Form 20-F for the year ended March 31, 2022. NYSE Regulation says the Company was not able to complete the Delayed Filings by August 17, 2022, which is the maximum time allowed under Section 802.01E of the NYSE’s Listed Company Manual.
Eros has announced its Annual General Meeting will be held on December 29, 2022 at the registered office of the Company at First Names House, Victoria Road, Douglas, Isle of Man IM2 4DF, British Isles at 2:00 pm GMT (UK).