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Eros Media World PLC (NYSE: EMWP) will not appeal the NYSE's decision to delist its A ordinary shares due to the inability to file annual reports on Form 20-F for the periods ending March 31, 2021, and March 31, 2022. This situation arose from challenges in obtaining audited financial statements from its predecessor STX Filmworks, Inc. To address financial difficulties, Eros is considering asset sales and restructuring strategies. The company's Annual General Meeting was successfully concluded on December 29, 2022.
Eros Media World PLC (NYSE: EMWP) has filed an appeal with the New York Stock Exchange to challenge the delisting of its shares following a Staff Determination. The hearing date has been rescheduled to April 13, 2023. The Company will hold its Annual General Meeting on December 29, 2022. Eros Media operates a global media and entertainment platform, acquiring and distributing a broad spectrum of content, including films and digital media. The Company owns Eros Now, an OTT platform with rights to over 12,000 films in major Indian languages.
Eros Media World PLC (NYSE: EMWP) partners with Arabia Pictures to produce three feature films, including a remake of a 2012 Bollywood hit. Production starts in 2023, aligning with Saudi Arabia's Vision 2030 to diversify its economy. CEO Pradeep Dwivedi emphasizes the cultural ties between Saudi Arabia and India, aiming to resonate with MENA audiences. The partnership also explores opportunities in film production and technology, following their strategic alliance announced in August 2023.
Eros Media World PLC (NYSE: EMWP) has entered into a partnership with the Ministry of Investment in Saudi Arabia to explore opportunities in film and entertainment content production. This collaboration, formalized at the Future Investment Initiative in Riyadh (October 25-27, 2022), aims to support Eros Media's expansion in Saudi Arabia and align with the government's Vision 2030 goals. The partnership will facilitate local partnerships and investments, enhancing Eros Media's position in the region and contributing to a full spectrum content ecosystem with Web 3.0 integration.
Eros Media World PLC (NYSE: EMWP) has officially filed an appeal with the New York Stock Exchange (NYSE) against its decision to delist the company's A ordinary shares. The review is set for December 15, 2022. This appeal follows the sale of the STX Entertainment business, which created financial reporting complexities. Eros Media is working with new auditors to provide current financial statements. The company focuses on global media and entertainment, including the Eros Now OTT platform, which holds rights to over 12,000 films.
Eros Media World PLC (NYSE: EMWP) has received a notice from the NYSE regarding the impending delisting of its A ordinary shares due to the failure to file required annual and semi-annual reports for fiscal years 2021 and 2022. The company plans to appeal this decision. Eros recently sold its STX Entertainment business to focus on long-term strategy, although this transition has led to reporting challenges. The company continues to work on becoming current with SEC reporting obligations.
Eros Media World PLC (EMWP) has announced a strategic partnership with Arabia Pictures Group to explore content production and technology opportunities in the Saudi Arabian market. This partnership is significant as it marks the first collaboration between an Indian media company and a Saudi organization in entertainment. The Saudi government plans to invest approximately $6.9 billion in its film industry as part of Vision 2030, aiming to diversify the economy. The companies will also delve into Web3 and blockchain technologies to enhance the entertainment ecosystem.
Eros Media World Plc (NYSE: EMWP) has received an extension from the New York Stock Exchange until August 17, 2022, to file its annual report on Form 20-F for the fiscal year ending March 31, 2021, and its Semi-Annual Report on Form 6-K for six months ending September 30, 2021. The NYSE will closely monitor the company's progress, and failure to meet interim milestones may lead to an accelerated trading suspension. If the required filings are not completed by the extension deadline, the NYSE will initiate delisting procedures.
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