Kraft Heinz Receives Notification of Deficiency From Nasdaq Related to Delayed Filing of Annual Report on Form 10-K
PITTSBURGH & CHICAGO--(BUSINESS WIRE)--Mar. 15, 2019--
The Kraft Heinz Company (NASDAQ: KHC) (“Kraft Heinz” or the “Company”)
today received a standard notice from Nasdaq stating that, as a result
of not having timely filed its annual report on Form 10-K for the year
ended December 29, 2018, Kraft Heinz is not in compliance with Nasdaq
Listing Rule 5250(c)(1), which requires timely filing of periodic
financial reports with the Securities and Exchange Commission. This
notice has no immediate effect on the listing or trading of Kraft
Heinz’s common stock on the Nasdaq Global Select Market.
Under Nasdaq’s listing rules, Kraft Heinz has 60 calendar days from the
date of the notice to submit a plan to regain compliance. If the plan is
accepted by Nasdaq, Kraft Heinz can be granted up to 180 calendar days
from the Form 10-K's due date (as extended by Rule 12b-25 under the
Securities Exchange Act of 1934, as amended), to regain compliance.
Kraft Heinz expects to submit a plan to regain compliance or file its
Form 10-K within the timeline prescribed by Nasdaq.
Kraft Heinz is working diligently and expects to file its Form 10-K in
the coming weeks.
ABOUT THE KRAFT HEINZ COMPANY
For 150 years, we have produced some of the world’s most beloved
products at The Kraft Heinz Company (NASDAQ: KHC). Our Vision is To
Be the Best Food Company, Growing a Better World. We are one of the
largest global food and beverage companies, with 2018 net sales of
approximately $26 billion. Our portfolio is a diverse mix of iconic and
emerging brands. As the guardians of these brands and the creators of
innovative new products, we are dedicated to the sustainable health of
our people and our planet. To learn more, visit www.kraftheinzcompany.com
or follow us on LinkedIn and Twitter.
This press release contains a number of forward-looking statements.
Words such as “expect,” “working,” "will," "may," and variations of such
words and similar future or conditional expressions are intended to
identify forward-looking statements. These forward-looking statements
include, but are not limited to, statements regarding our beliefs and
expectations relating to the filing and content of the Form 10-K and
compliance with Nasdaq's listing rules. These forward-looking statements
are not guarantees of future results and are subject to a number of
risks and uncertainties, many of which are difficult to predict and
beyond our control. Important factors that may cause actual results to
differ materially from those in the forward-looking statements include,
but are not limited to, a material delay in Kraft Heinz’s financial
reporting and the possibility that ongoing reviews may identify errors
or control deficiencies in Kraft Heinz’s accounting practices. We
disclaim and do not undertake any obligation to update or revise any
forward-looking statement in this press release, except as required by
applicable law or regulation.
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Source: The Kraft Heinz Company
Michael Mullen (media)
Christopher Jakubik, CFA (investors)