Welcome to our dedicated page for SMX SEC MATTERS PLC news (Ticker: SMXWW), a resource for investors and traders seeking the latest updates and insights on SMX SEC MATTERS PLC stock.
SMX (Security Matters) PLC provides a unique solution to address both authentication and track and trace challenges, ensuring the integrity of the supply chain and offering quality assurance and brand accountability to producers. The company's technology functions as a track and trace system using markers, readers, and algorithms to identify embedded sub-molecular particles for tracking various components through the production process or along a supply chain to the end producer.
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.
On April 24, 2023, SMX (Security Matters) plc (NASDAQ: SMX; SMXWW) announced that Mr. Joshua Skule, former FBI Executive Assistant Director, will join its ad hoc International Legal Prosecuting Task Force. His role will focus on investigating irregular trading patterns, including spoofing and potential illegal market manipulation of SMX shares. Skule will also liaise with international law enforcement agencies such as INTERPOL and Irish authorities to explore legal actions if warranted.
Skule's extensive background in intelligence and law enforcement is expected to enhance the Task Force's effectiveness. SMX aims to combat abusive trading tactics while focusing on providing technology solutions for a low-carbon economy, addressing regulatory challenges in the industry.
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