RETAIL HOLDINGS N.V. ADVISES SHAREHOLDERS AS TO CHANGE IN COMPANY'S PINK SHEET CATEGORY

Rhea-AI Summary

Retail Holdings N.V. (Symbol: RHDGF) has announced a change in its Pink Sheet classification due to the ongoing liquidation of the company. Following the divestment of its last operating business in December 2021 and subsequent liquidation of its holding companies, it will now provide simplified financial statements instead of audited ones. Consequently, the company's shares will transition from 'Pink Sheet Current' to 'Pink Sheet Limited'. The OTC Markets confirmed that this change will not affect the company's quote eligibility or share value. Shareholders are encouraged to refer to the 2022 Annual Report for more details.

Positive

• No impact on share value or quote eligibility from the change to 'Pink Sheet Limited'.
• Reduction in administrative expenses through simplified financial reporting.

Negative

• Transitioning to simplified financial statements may raise concerns about financial transparency.
• Ongoing liquidation process indicates no active business operations, which could impact investor confidence.

WILLEMSTAD, Curacao, Jan. 23, 2023 /PRNewswire/ -- Retail Holdings N.V. (Symbol: RHDGF) -- Retail Holdings N.V. (the "Company") advised shareholders today as to a change in the Company's Pink Sheet category.

As previously advised, with the divestment of the Company's last operating business in December 2021 and the liquidation of all of the Company's intermediate holding companies in 2022 and January 2023, the Company will now proceed with the liquidation of the ultimate parent company, Retail Holdings N.V.   In light of this simplification of the Company's organizational structure, and in an effort to reduce administrative expenses pending its ultimate liquidation, the Company has elected to no longer provide audited financial statements. Rather, the Company will provide simplified financial statements on a liquidation basis as prepared by management.  

Pursuant to OTC Market guidelines, as a result of this change, the Company's shares (Symbol: RHDGF) will no longer be identified as "Pink Sheet Current", but rather will be identified as "Pink Sheet Limited".  The OTC Markets has confirmed that there will be no impact to the Company's shares as a result of this recharacterization and that the Company will still be "quote eligible" on the Pink Sheets market.

For additional information regarding the Company and the liquidation effort, please see the Company's 2022 Annual Report, dated January 2023 and the Earning Press Release, dated January 12, 2023 available at the Corporate/Investor section of the Company's website www.retailholdings.com. You may also contact Amy Pappas, Corporate Secretary via email at apappas@retailholdings.com or via mail at P.O. Box 120, Mount Kisco, New York 10549.

INFORMATION CONTACT
AMY PAPPAS
apappas@retailholdings.com

View original content:https://www.prnewswire.com/news-releases/retail-holdings-nv-advises-shareholders-as-to-change-in-companys-pink-sheet-category-301728392.html

SOURCE Retail Holdings N.V.

FAQ

What is the recent change for Retail Holdings N.V. in the Pink Sheet category?

Retail Holdings N.V. will transition from 'Pink Sheet Current' to 'Pink Sheet Limited' due to liquidation activities.

How will the change to 'Pink Sheet Limited' affect RHDGF shares?

The change will not impact the quote eligibility or value of RHDGF shares according to OTC Markets.

Why has Retail Holdings stopped providing audited financial statements?

The company is simplifying its organizational structure during the liquidation process, opting for simplified financial statements instead.

When did Retail Holdings divest its last operating business?

Retail Holdings divested its last operating business in December 2021.