Chemours Receives NYSE Notice Regarding Delayed Form 10-K Filing
19 March 2024 - 8:16AM
Business Wire
On March 18, 2024, The Chemours Company (“Chemours” or “the
Company”) (NYSE: CC) received notice from the New York Stock
Exchange (the “NYSE”) that the Company is not in compliance with
Section 802.01E of the NYSE Listed Company Manual due to a delay in
filing its Annual Report on Form 10-K for the year ended December
31, 2023, with the Securities and Exchange Commission (the
“SEC”).
The NYSE informed the Company that, under the NYSE’s rules, the
Company will have six months from March 15, 2024 to file the Form
10-K with the SEC. The Company can regain compliance with the NYSE
listing standards by filing the Form 10-K with the SEC before such
date.
As previously disclosed in the Company’s Form 12b-25 filed with
the SEC on February 29, 2024, the Company needed additional time to
complete its year-end reporting process, including its review of
internal control over financial reporting as of December 31, 2023,
and for the Audit Committee of the Board of Directors to complete a
related internal review. As disclosed in a press release issued on
March 6, 2024, the Audit Committee review has been substantially
completed. The Company is working diligently to complete its
year-end reporting process, including its review of internal
control over financial reporting as of December 31, 2023, and to
file its Annual Report on Form 10-K with the SEC as promptly as
practicable. The Company will make a subsequent announcement to
schedule the date and time of its fourth quarter and full-year 2023
earnings release and conference call.
About The Chemours Company The Chemours Company (NYSE:
CC) is a global leader in Titanium Technologies, Thermal &
Specialized Solutions, and Advanced Performance Materials providing
its customers with solutions in a wide range of industries with
market-defining products, application expertise and chemistry-based
innovations. We deliver customized solutions with a wide range of
industrial and specialty chemicals products for markets, including
coatings, plastics, refrigeration and air conditioning,
transportation, semiconductor and consumer electronics, general
industrial, and oil and gas. Our flagship products are sold under
prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™,
Viton™, Nafion™, and Krytox™. The company has approximately 6,200
employees and 28 manufacturing sites serving approximately 2,700
customers in approximately 110 countries. Chemours is headquartered
in Wilmington, Delaware and is listed on the NYSE under the symbol
CC.
For more information, we invite you to visit chemours.com or
follow us on X (formerly Twitter) @Chemours or on LinkedIn.
Forward-Looking Statements This press release contains
forward-looking statements, within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, which involve risks and uncertainties.
Forward-looking statements provide current expectations of future
events based on certain assumptions and include any statement that
does not directly relate to a historical or current fact. The words
“believe,” “expect,” “will,” “anticipate,” “plan,” “estimate,”
“target,” “project” and similar expressions, among others,
generally identify “forward-looking statements,” which speak only
as of the date such statements were made. All forward-looking
statements are subject to risks and uncertainties. These risks
include the results of the Audit Committee review; the timing and
completion of the Company’s reporting of its 2023 results;
completing the assessment of internal control over financial
reporting and filing required reports with the Securities and
Exchange Commission; remediating any material weaknesses in
internal control over financial reporting; regulatory inquiries,
litigation, or liabilities that may result from the matters
included in the Audit Committee review, including related
disclosure in the Company’s filings with the Securities and
Exchange Commission; the impact of this announcement on the price
of our common stock and our relationships with investors,
employees, suppliers, lenders and other parties. Other risks and
uncertainties include, among other things, the outcome or
resolution of any pending or future environmental liabilities, the
commencement, outcome or resolution of any regulatory inquiry,
investigation or proceeding, the initiation, outcome or settlement
of any litigation, changes in environmental regulations in the U.S.
or other jurisdictions that affect demand for or adoption of our
products, anticipated future operating and financial performance
for our segments individually and our company as a whole, business
plans, prospects, targets, goals and commitments, capital
investments and projects and target capital expenditures, plans for
dividends or share repurchases, sufficiency or longevity of
intellectual property protection, cost reductions or savings
targets, plans to increase profitability and growth, our ability to
make acquisitions, integrate acquired businesses or assets into our
operations, and achieve anticipated synergies or cost savings, all
of which are subject to substantial risks and uncertainties that
could cause actual results to differ materially from those
expressed or implied by such statements. Forward-looking statements
are based on certain assumptions and expectations of future events
that may not be accurate or realized, such as full year guidance
relying on models based upon management assumptions regarding
future events that are inherently uncertain. These statements are
not guarantees of future performance. Forward-looking statements
also involve risks and uncertainties that are beyond Chemours’
control. Matters outside our control, including general economic
conditions, geopolitical conditions and global health events, have
affected or may affect our business and operations and may or may
continue to hinder our ability to provide goods and services to
customers, cause disruptions in our supply chains such as through
strikes, labor disruptions or other events, adversely affect our
business partners, significantly reduce the demand for our
products, adversely affect the health and welfare of our personnel
or cause other unpredictable events. Additionally, there may be
other risks and uncertainties that Chemours is unable to identify
at this time or that Chemours does not currently expect to have a
material impact on its business. Factors that could cause or
contribute to these differences include the risks, uncertainties
and other factors discussed in our filings with the U.S. Securities
and Exchange Commission, including in our Annual Report on Form
10-K for the year ended December 31, 2022 and our Quarterly Report
on Form 10-Q for the quarter ended September 30, 2023. Chemours
assumes no obligation to revise or update any forward-looking
statement for any reason, except as required by law.
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INVESTORS Brandon Ontjes VP, Financial Planning &
Analysis and Investor Relations +1.302.773.3300
investor@chemours.com
Kurt Bonner, Manager, Investor Relations +1.302.773.0026
investor@chemours.com
NEWS MEDIA Cassie Olszewski Corporate Media & Brand
Reputation Leader +1.302.219.7140 media@chemours.com
Chemours (NYSE:CC)
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