Poet Technologies Announces Intention To Voluntarily Delist from the TSXV
POET Technologies has announced its intention to voluntarily delist its common shares from the TSX Venture Exchange (TSXV), while maintaining its listing on the NASDAQ Capital Market under the symbol 'POET'. The company's board of directors has approved this decision, citing low trading volume on TSXV as the main reason, as NASDAQ represents the majority of trading activity. POET will remain a reporting issuer in Canada and continue providing comprehensive disclosure under Canadian securities laws. Shareholders can continue trading through NASDAQ, and those with Canadian brokerage accounts are advised to contact their brokers regarding NASDAQ trading procedures.
POET Technologies ha annunciato la sua intenzione di ritirare volontariamente le proprie azioni ordinarie dalla TSX Venture Exchange (TSXV), mantenendo però la sua quotazione sul NASDAQ Capital Market con il simbolo 'POET'. Il consiglio di amministrazione dell'azienda ha approvato questa decisione, citando il basso volume di scambi su TSXV come principale motivo, poiché il NASDAQ rappresenta la maggior parte dell'attività di trading. POET rimarrà un emittente reporting in Canada e continuerà a fornire divulgazioni complete secondo le leggi sui titoli canadesi. Gli azionisti possono continuare a fare trading attraverso il NASDAQ e coloro che possiedono conti di intermediazione canadesi sono invitati a contattare i loro broker riguardo alle procedure di trading del NASDAQ.
POET Technologies ha anunciado su intención de retirar voluntariamente sus acciones ordinarias de la TSX Venture Exchange (TSXV), manteniendo su cotización en el NASDAQ Capital Market bajo el símbolo 'POET'. La junta directiva de la empresa ha aprobado esta decisión, citando el bajo volumen de negociación en TSXV como la razón principal, ya que el NASDAQ representa la mayor parte de la actividad de trading. POET seguirá siendo un emisor de informes en Canadá y continuará proporcionando divulgaciones completas bajo las leyes de valores canadienses. Los accionistas pueden seguir negociando a través del NASDAQ, y aquellos con cuentas de corretaje canadienses se aconseja que se pongan en contacto con sus corredores sobre los procedimientos de negociación del NASDAQ.
POET Technologies는 TSX 벤처 거래소(TSXV)에서 자사의 보통주를 자발적으로 상장 폐지할 의사를 발표했으며, 'POET' 기호 아래 NASDAQ 자본 시장에서의 상장은 유지할 것입니다. 회사의 이사회는 TSXV에서 낮은 거래량을 주요 이유로 이 결정을 승인했으며, NASDAQ은 거래 활동의 대부분을 차지하고 있습니다. POET는 캐나다에서 보고 주체로 남아 있으며, 캐나다 증권법에 따라 포괄적인 공시를 계속 제공할 것입니다. 주주들은 NASDAQ을 통해 계속 거래할 수 있으며, 캐나다 중개 계좌를 가진 분들은 NASDAQ 거래 절차에 대해 중개인에게 문의하는 것이 좋습니다.
POET Technologies a annoncé son intention de retirer volontairement ses actions ordinaires de la TSX Venture Exchange (TSXV), tout en maintenant sa cotation sur le NASDAQ Capital Market sous le symbole 'POET'. Le conseil d'administration de l'entreprise a approuvé cette décision, citant le faible volume de transactions sur la TSXV comme principale raison, car le NASDAQ représente la majorité de l'activité de trading. POET restera un émetteur de rapport au Canada et continuera à fournir des informations complètes conformément aux lois canadiennes sur les valeurs mobilières. Les actionnaires peuvent continuer à négocier via le NASDAQ, et ceux ayant des comptes de courtage canadiens sont invités à contacter leurs courtiers concernant les procédures de trading sur le NASDAQ.
POET Technologies hat seine Absicht angekündigt, die Stammaktien freiwillig von der TSX Venture Exchange (TSXV) zurückzuziehen, während die Notierung an der NASDAQ Capital Market unter dem Symbol 'POET' beibehalten wird. Der Vorstand des Unternehmens hat diese Entscheidung genehmigt und als Hauptgrund das geringe Handelsvolumen an der TSXV genannt, da die NASDAQ den Großteil der Handelsaktivitäten ausmacht. POET bleibt ein Berichterstatter in Kanada und wird weiterhin umfassende Offenlegungen gemäß den kanadischen Wertpapiergesetzen bereitstellen. Aktionäre können weiterhin über die NASDAQ handeln, und diejenigen mit kanadischen Brokerage-Konten werden gebeten, sich bezüglich der NASDAQ-Handelsverfahren an ihre Makler zu wenden.
- Maintaining NASDAQ listing, which represents majority of trading volume
- Potential cost savings from eliminating dual-listing expenses
- Reduced trading accessibility for Canadian retail investors
- Potential decrease in local market visibility
Insights
The voluntary delisting from TSXV while maintaining NASDAQ listing represents a strategic capital markets move that could benefit POET Technologies. With the majority of trading volume already occurring on NASDAQ, this consolidation reduces administrative costs and complexity without significantly impacting trading accessibility. Key benefits include:
- Cost reduction from eliminating dual-listing expenses
- Streamlined regulatory compliance focused on U.S. markets
- Maintained Canadian reporting issuer status preserving transparency
- Enhanced trading efficiency through NASDAQ's superior liquidity
For investors, the impact should be minimal since Canadian shareholders can still trade through brokers with NASDAQ access. The move aligns with similar actions by other growth-focused tech companies seeking to optimize their market presence and reduce operational overhead.
POET Technologies' shares will remain listed on the NASDAQ Capital Market
TORONTO, Nov. 22, 2024 (GLOBE NEWSWIRE) -- POET Technologies Inc. ("POET" or the "Company") (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET Optical InterposerTM, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and artificial intelligence markets, today announced that the Company's board of directors has approved the voluntary delisting (the "Delisting") of POET's common shares (the "Shares") from the TSX Venture Exchange (the "TSXV"). The Company intends to submit an application to the TSXV to complete such Delisting in due course. Upon submission of the Company's application, the Delisting will be subject to the approval of the TSXV and the satisfaction of all necessary conditions. POET's Shares will continue to be listed on the Nasdaq Capital Market (the "Nasdaq") under the symbol "POET" and shareholders will be able to continue to trade their Shares through the Nasdaq.
Trading on the Nasdaq represents the vast majority of the Company's trading volume. Given the low trading volume on the TSXV the Company has determined, after due consideration, that maintaining the TSXV listing does not form part of the Company's go-forward capital markets strategy. The Company is not required to seek security holder approval for the Delisting since an alternative market for POET's Shares exists on the Nasdaq.
POET will remain a "reporting issuer" in Canada and will continue to provide regular comprehensive disclosure pursuant to applicable Canadian securities laws. Additional information regarding the Company's Delisting application will be disseminated in due course.
Many brokers in Canada, including discount and online brokers, have the ability to buy and sell securities listed on the Nasdaq. Shareholders holding POET's Shares in Canadian brokerage accounts should contact their brokers to confirm how to trade their shares on the Nasdaq.
About POET Technologies Inc.
POET is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centers. POET's photonic integration solutions are based on the POET Optical InterposerTM, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET's Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET's Optical Interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, self-contained "Edge" computing applications and sensing applications, such as LIDAR systems for autonomous vehicles. POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore. More information about POET is available on our website at www.poet-technologies.com.
| Media Relations Contact: Adrian Brijbassi Adrian.brijbassi@poet.tech | Company Contact: Thomas R. Mika, EVP & CFO tm@poet.tech |
Forward-Looking Statements
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements and information relate, among other things, to the Delisting.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding the ability of shareholders to trade their Shares through their brokers on the Nasdaq, POET's ability to continue to meet the listing standards of the Nasdaq and that the Delisting will be approved by the TSXV. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward- looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel: 416-368-9411 - Fax: 416-322-5075
FAQ
Why is POET Technologies delisting from TSXV?
Will POET Technologies remain listed on any exchange after TSXV delisting?
Does POET Technologies need shareholder approval for TSXV delisting?
Will POET Technologies continue reporting in Canada after TSXV delisting?
