Husentec Receives Objection Submission Regarding Delisting

[Asia Economy Reporter Lee Jung-yoon] The Korea Exchange KOSDAQ Market Division announced on the 12th that Husentec has submitted an objection to its delisting and has been granted a correction period.

Husentec recently received an auditor's opinion on its financial statements for the recent fiscal year that included a disclaimer of opinion due to scope limitation and uncertainty about the company's ability to continue as a going concern, which triggered grounds for delisting. On this day, the company submitted an objection.

Accordingly, the Exchange granted a correction period of up to 10 days starting from the day after the statutory deadline for submitting the next business report, during which trading will remain suspended.

Furthermore, within 15 business days after the correction period ends, Husentec must submit a report on the implementation of the improvement plan along with an expert's verification of the results. The Corporate Evaluation Committee will then convene within 20 days from the date of submission to review and decide on the delisting of the relevant stock.

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