Exchange: "Woongjin Energy Audit Opinion 'Disclaimer'... Cause for Delisting Occurred"
[Asia Economy Reporter Minji Lee] The Korea Exchange announced on the 30th that Woongjin Energy has triggered grounds for delisting due to a refusal of audit opinion.
The Exchange stated, "The company received a 'disclaimer of opinion' from the auditor on the 2019 fiscal year financial statements due to uncertainties regarding the company's ability to continue as a going concern," and added, "We plan to review and decide by combining this with the delisting grounds from the 2018 fiscal year audit opinion."
Woongjin Energy triggered delisting grounds last year due to the auditor's refusal of opinion on the 2018 fiscal year financial statements. Accordingly, the Exchange granted an improvement period until November 9 of last year and decided to resume deliberations at the Listing Disclosure Committee meeting held on the 28th of the same month.
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Woongjin Energy can file an objection by the 21st of next month. Trading will be suspended until the delisting grounds are resolved.
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