Redrover Faces Delisting Reason... Change in Suspension Period for Stock Trading

[Asia Economy Reporter Lee Jung-yoon] The Korea Exchange KOSDAQ Market Headquarters announced on the 13th that Redrover has triggered grounds for delisting as the auditor's opinion on the financial statements for the 2021 fiscal year was a 'disclaimer of opinion' due to scope limitation.

The Exchange stated, "An objection can be filed within 15 days from the date of receiving the delisting notification, and if none is filed, the delisting procedure will proceed," adding, "Regardless of the delisting grounds, the KOSDAQ Market Committee has decided to resume deliberations on the substantive review of listing eligibility on the 18th." Furthermore, "The committee will review and resolve the delisting status related to this matter in the future," it said.

It also announced that the suspension period for stock trading will be changed due to the occurrence of delisting grounds. The suspension period is from July 11, 2019, until the decision date on delisting after the improvement period ends, or until the expiration date of the objection period for delisting and the decision date on delisting regarding the objection.