PHC "We Will Do Our Best to Overcome the Reason for Delisting"
[Asia Economy Reporter Jang Hyowon] PHC (CEO Choi Inhwan) submitted its audit report on the 23rd, resulting in a disclaimer of opinion due to scope limitation, which triggered grounds for delisting.
The external auditor, Lee Jung Accounting Firm, stated in the audit report that they were unable to obtain sufficient and appropriate audit evidence to provide a basis for the audit opinion on PHC, explaining the reason for the disclaimer of opinion.
Furthermore, the Korea Exchange determined that the disclaimer of opinion constituted grounds for delisting PHC and suspended trading of its shares.
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A PHC representative said, “The company sincerely provided materials during the audit, but ultimately a disclaimer of opinion was issued, resulting in grounds for delisting. We sincerely apologize to our shareholders.” He added, “The company will file an objection with the Korea Exchange by April 12 to prevent immediate delisting and promises to make every effort to resolve the delisting grounds and resume stock trading.”
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