SMX preparing Irish Investigatory Capabilities Against Possible Illegal Shorts and Spoofing
SMX (Security Matters) plc (NASDAQ: SMX; SMXWW) announced on April 25, 2023, that it has instructed its Irish legal counsel, Arthur Cox LLP, to consider issuing a notice under regulation 23 of its articles of association. This notice will require shareholders to provide information regarding their beneficial ownership of shares beyond the disclosures mandated by Irish law for individuals owning 3% or more of the Company's shares.
The move is part of SMX's strategy as it navigates complex challenges in achieving carbon neutrality and adaptation to new regulatory standards. The Company is leveraging its technology platform to assist businesses in transitioning to a low-carbon economy. However, the press release contains forward-looking statements that highlight several risks, including regulatory changes, potential difficulties in maintaining its Nasdaq listing, and the need for additional capital to support business operations.
- Initiative to enhance transparency regarding shareholder ownership.
- Positioning to assist businesses in transitioning to a low-carbon economy using its technology.
- Potential difficulties in maintaining listing on Nasdaq.
- Risks associated with the need for additional capital to execute the business plan.
NEW YORK, April 25, 2023 /PRNewswire/ -- SMX (Security Matters) plc (NASDAQ:SMX; SMXWW) has requested its Irish counsel, Arthur Cox LLP, to consider issuing a notice under regulation 23 of its articles of association:
to require its shareholders to furnish the Company with information as to the beneficial ownership of any shares in the Company, which information is in addition to the disclosures required to be made under Irish law by persons having an interest of
About SMX
As global businesses faces new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
Forward-Looking Statements
The information in this press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast," "intends," "may," "will," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, for example: matters relating to the Company's fight against abusive and possibly illegal trading tactics against the Company's stock; successful launch and implementation of SMX's joint projects with manufacturers and other supply chain participants of steel, rubber and other materials; changes in SMX's strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; SMX's ability to develop and launch new products and services; SMX's ability to successfully and efficiently integrate future expansion plans and opportunities; SMX's ability to grow its business in a cost-effective manner; SMX's product development timeline and estimated research and development costs; the implementation, market acceptance and success of SMX's business model; developments and projections relating to SMX's competitors and industry; and SMX's approach and goals with respect to technology. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company's shares on Nasdaq; changes in applicable laws or regulations; the effects of the COVID-19 pandemic on SMX's business; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which SMX operates; the risk that SMX and its current and future collaborators are unable to successfully develop and commercialize SMX's products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that SMX is unable to secure or protect its intellectual property; the possibility that SMX may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in SMX's filings from time to time with the Securities and Exchange Commission.
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SOURCE SMX
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