Natuzzi Intends to Rely on SEC Relief & Delay Approval of Consolidated Annual Financial Statements & Publication Of 2019 20-F
March 30 2020 - 4:30PM
Business Wire
Natuzzi S.p.A. (NYSE:NTZ) - In accordance with the
Securities and Exchange Commission (“SEC”) Order Under Section 36
of the Securities Exchange Act of 1934 Granting Exemptions from
Specified Provisions of the Exchange Act and Certain Rules
Thereunder (SEC Release No. 34-88318) dated March 4, 2020, as
amended on March 25, 2020 (SEC Release No. 34-88465) (the “SEC
Order”), Natuzzi S.p.A. (the “Company”) hereby provides notice that
it intends to rely on the relief provided by the SEC Order in
connection with the filing of its Annual Report on Form 20-F for
the fiscal year ended December 31, 2019 (the “Annual Report”).
On February 24, 2020, the Company issued a press release
(furnished to the SEC on Form 6-K) providing preliminary updates on
the impacts of the COVID-19 outbreak on its operations in China. On
March 13, 2020, the Company issued a further press release
(furnished to the SEC on Form 6-K) indicating that the aggressive
spreading of the COVID-19 outbreak outside of China, in particular
in Italy, and the resulting extensive government-imposed
restrictions and containment measures have had an impact on the
Company’s business and operational activities.
Because the Company is headquartered in Santeramo in Colle,
Bari, Italy, it is subject to the quarantine imposed by the Italian
government in response to the COVID-19 outbreak, which includes
restrictions on domestic and international travel, restrictions on
public gatherings, and a general “stay at home” order for the
Italian population. The quarantine has materially restricted the
ability of the Company to access the Company’s premises and
records. Consequently, the Company cannot ensure that all
activities required to finalize the Company’s consolidated
financial statements can be completed within the original
deadline.
Further, as part of the measures adopted by the Italian
government in response to the COVID-19 outbreak, art. 106 of the
Decree n. 18 of March 17, 2020 (the “Italian Order”) overrides
certain shareholder meeting requirements set forth in the Company’s
by-laws and the Italian Civil Code. The Italian Order extends the
deadline for the Company to hold a shareholder meeting to approve
its financial statements from 120 days to 180 days after the end of
the applicable financial year. In accordance with the Italian
Order, the Company intends to call a shareholder meeting to approve
its financial statements for the year ended December 31, 2019 no
later than 180 days after December 31, 2019.
In reliance on the SEC Order, the Company expects to file its
annual report on Form 20-F for the financial year ended December
31, 2019 no later than 45 days after April 30, 2020.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
jurisdiction. Any such securities have not been registered under
the U.S. Securities Act of 1933 (as amended, the “Securities Act”)
and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements.
CAUTIONARY STATEMENT CONCERNING
FORWARD-LOOKING STATEMENTS Certain statements set forth
in this press release constitute forward-looking statements within
the meaning of the safe harbor provisions of Section 27A of the
Securities Act and Section 21E of the Securities Exchange Act of
1934, as amended. These statements involve risks and uncertainties
that could cause the Company’s actual results to differ materially
from those stated or implied by such forward-looking statements.
More information about the potential factors that could affect the
Company’s business and financial results is included in the
Company’s filings with the SEC, including the Company’s most recent
Annual Report on Form 20-F. The Company undertakes no obligation to
update any of the forward-looking statements after the date of this
press release.
About Natuzzi S.p.A. Founded in 1959 by Pasquale Natuzzi,
Natuzzi S.p.A. is Italy’s largest furniture house and one of the
most important global players in the furniture industry with an
extensive manufacturing footprint and a global retail network.
Natuzzi is the European lifestyle best-known brand in the
upholstered furnishings sector worldwide (Brand Awareness
Monitoring Report - Ipsos 2018) and has been listed on the New York
Stock Exchange since May 13, 1993. Always committed to social
responsibility and environmental sustainability, Natuzzi S.p.A. is
ISO 9001 and 14001 certified (Quality and Environment), OHSAS 18001
certified (Safety on the Workplace) and FSC® certified (Forest
Stewardship Council).
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version on businesswire.com: https://www.businesswire.com/news/home/20200330005678/en/
NATUZZI INVESTOR RELATIONS Piero Direnzo |
+39.080.8820.812 | pdirenzo@natuzzi.com
NATUZZI CORPORATE COMMUNICATION Vito Basile (Press
Office) | +39.080.8820.676 | vbasile@natuzzi.com
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