SHL Holdings Ltd. Announces Update to its Financial Reporting

Rhea-AI Summary

SHL Holdings Ltd. has announced a shift in its financial reporting due to its ongoing liquidation process. Starting in Q1 2021, the company will provide limited quarterly financial information, presenting only a GAAP Liquidation Basis Statement of Net Assets and Changes in Net Assets. This change comes as part of its Plan of Liquidation, indicating that traditional footnote disclosures will no longer be included in reports. Investors can access financial updates through the company's website.

Positive

• None.

Negative

• Company is in liquidation, indicating financial distress.
• Limited financial reporting may hinder transparency for investors.

HAMILTON, Bermuda, May 14, 2021 (GLOBE NEWSWIRE) -- SHL Holdings Ltd. (“SHL” or “Company”) today announced that in connection with its Plan of Liquidation and beginning with the first quarter of 2021, the Company plans to report more limited quarterly financial information as it works through the liquidation process.  As such, quarterly financial reporting will be limited to a GAAP Liquidation Basis Statement of Net Assets and Changes in Net Assets and will not include footnote disclosures as has historically been presented.  Financial reports can be accessed on the Company’s website www.shlholdings.com by clicking the Investor Relations tab and by clicking the Financial Information tab.

Important Information

This press release contains statements about future results, plans and events that may constitute "forward-looking" statements within the meaning of the U.S. federal securities laws.  The Company cautions you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release.  In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology.  Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control. These risks and uncertainties include, but are not limited to, the factors described in the Company's GAAP financial statements posted on its website at www.shlholdings.com.  Readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements are made.

Contact 
Scott Beinhacker
1-212-478-3699
sbeinhacker@shlholdings.com

Source: SHL Holdings Ltd.

FAQ

What are the implications of SHL Holdings Ltd.'s liquidation process on SYCRF stock?

The ongoing liquidation process suggests significant financial distress, which may negatively impact SYCRF stock value as investor confidence wanes.

When did SHL Holdings Ltd. announce changes to its financial reporting?

SHL Holdings Ltd. announced the changes to its financial reporting on May 14, 2021.

What type of financial information will SHL Holdings Ltd. provide during liquidation?

During the liquidation process, SHL Holdings Ltd. will provide a GAAP Liquidation Basis Statement of Net Assets and Changes in Net Assets, omitting detailed footnote disclosures.

How can investors access SHL Holdings Ltd.'s financial reports?

Investors can access SHL Holdings Ltd.'s financial reports by visiting their website and navigating to the Investor Relations section.