Ferroglobe PLC Announces Delay in Filing Form 20-F Due to COVID-19
April 30 2020 - 6:20PM
Ferroglobe PLC (NASDAQ:GSM) (“Ferroglobe”, “the Company”, “we”
or “our”), a global, leading producer of silicon metal, and a
leading silicon- and manganese-based specialty alloys producer,
announced today that there will be a delay in the filing of its
annual report on SEC Form 20-F for the year ended December 31, 2019
(“Annual Report”).
With the uncertainties created by the COVID-19
pandemic and potential implications for Ferroglobe’s operating
environment and financial results, the Company continues to prepare
financial scenarios for the near-term, which its external auditor
is auditing. The time and attention needed to gather and present
relevant information to the auditors has impeded the Company’s
ability to complete its Annual Report by the April 30, 2020 due
date. As a result, the Company is relying on the Securities and
Exchange Commission’s Orders under Section 36 of the Securities and
Exchange Act of 1934, as amended, dated March 4, 2020 and March 25,
2020 (Release Nos. 34-88318 and 34-88465) to delay the filing of
its Annual Report. The Company expects to file the Annual Report in
late May 2020, but in any event not later than June 15, 2020.
In the meantime, the Company notes that the
COVID-19 pandemic is affecting global economies and financial
markets and could negatively affect our operations and/or our
ability to access capital, as well as the operations and financial
position of our suppliers and customers. The ultimate impact of the
COVID-19 pandemic is highly uncertain and subject to change. We do
not yet know the full extent of potential impacts on our business,
the financial markets or the global economy as a whole.
Forward-Looking
Statements
This release contains “forward-looking
statements” within the meaning of U.S. securities laws.
Forward-looking statements are not historical facts but are based
on certain assumptions of management and describe Ferroglobe’s
future plans, strategies and expectations. Forward-looking
statements often use forward-looking terminology, including words
such as “anticipate”, “believe”, “could”, “estimate”, “expect”,
“forecast”, “guidance”, “intends”, “likely”, “may”, “plan”,
“potential”, “predicts”, “seek”, “will” and words of similar
meaning or the negative thereof.
Forward-looking statements contained in this
press release are based on information currently available to
Ferroglobe and assumptions that management believe to be
reasonable, but are inherently uncertain. As a result, Ferroglobe’s
actual results, performance or achievements may differ materially
from those expressed or implied by these forward-looking
statements, which are not guarantees of future performance and
involve known and unknown risks, uncertainties and other factors
that are, in some cases, beyond Ferroglobe’s control.
Forward-looking financial information and other
metrics presented herein represent Ferroglobe’s goals and are not
intended as guidance or projections for the periods referenced
herein or any future periods.
All information in this press release is as of
the date of its release. Ferroglobe does not undertake any
obligation to update publicly any of the forward-looking statements
contained herein to reflect new information, events or
circumstances arising after the date of this press release. You
should not place undue reliance on any forward-looking statements,
which are made only as of the date of this press release.
About Ferroglobe
Ferroglobe is one of the world’s leading
suppliers of silicon metal, silicon- and manganese-based specialty
alloys, and other ferroalloys serving a customer base across the
globe in dynamic and fast-growing end markets, such as solar,
automotive, consumer products, construction and energy. The Company
is based in London. For more information,
visit http://investor.ferroglobe.com.
CONTACT:
Gaurav Mehta, EVP - Investor Relations
Email: investor.relations@ferroglobe.com
Louie Toma: +1 774-291-6000 Hayden IR - Managing Director
Email: louie@haydenir.com
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