Multi Ways Holdings receives notification of deficiency from NYSE

Multi Ways Holdings (MWG) announced the receipt of notification from New York Stock Exchange Regulation on May 16, indicating that, as a result of not having timely filed its Annual Report on Form 20-F for the fiscal year ended December 31 with the U.S. Securities and Exchange Commission, the Company is not in compliance with NYSE American continued listing standards. As a result, the Company is now subject to the procedures and requirements set forth in Section 1007 of the NYSE American Company Guide. Under Section 1007 of the NYSE American Company Guide, within five days of the date of the Filing Delinquency Notification, the Company was required to contact the NYSE to discuss the status of the 2024 Form 20-F and issue a press release disclosing the occurrence of the Filing Delinquency, the reason for the Filing Delinquency and the anticipated date such Filing Delinquency will be cured via the filing of the 2024 Form 20-F. The delay in the filing of the 2024 Form 20-F is primarily due to the additional time required to finalize the related financial disclosures. The management, in coordination with the Company’s independent auditors, is actively addressing the outstanding matters and working diligently to complete the filing as soon as practicable. The Company is in regular communication with its legal counsel and independent auditors and is committed to filing the 2024 Form 20-F on or before May 30. Multi Ways has already taken measures to expedite the finalization process and is confident in its ability to cure the Filing Deficiency and regain compliance with the continued listing requirements. NYSE Regulation notified the Company that the Exchange will monitor the Company and the status of the 2024 Form 20-F during the six-month period from the date of the Filing Delinquency. If the Company fails to cure the Filing Delinquency within the Initial Cure Period, the Exchange may, in the Exchange’s sole discretion, allow the Issuer’s securities to be traded for up to an additional six-month period depending on the Issuer’s specific circumstances. If the Exchange determines that an Additional Cure Period is not appropriate, suspension and delisting procedures will commence in accordance with the procedures set out in Section 1010 of the Company Guide. If the Exchange determines that an Additional Cure Period of up to six months is appropriate and the Issuer fails to file its Delinquent Report and any subsequent delayed filings by the end of that period, suspension and delisting procedures will generally commence. An issuer is not eligible to follow the procedures outlined in Section 1009 with respect to these criteria.