NORTH AMERICA HEADLINESNorth America
Grupo Simec Receives NYSE Amex Delinquency Notice
Aug. 26, 2010 Grupo Simec S.A.B. de C.V. received written notice from NYSE Amex LLC, indicating that the company was not in compliance with the Exchange’s continued listing criteria set forth in Sections 134 and 1101 of the NYSE Amex LLC Company Guide. The company has not filed its Annual Report on Form 20-F for the year ended December 31, 2009.
The Exchange indicated to the company in a letter dated August 17, 2010, that it must submit a plan by September 17, 2010, advising the Exchange of the action it has taken, or will take, to bring the company into compliance no later than November 17, 2010.
Grupo Simec says it has not filed its 2009 Annual Report because it is currently working with its external auditors and advisors to assess the adequacy of its internal controls and to develop and implement an appropriate internal controls remediation plan.
The company intends to submit its plan of compliance or file its 2009 Form 20-F on or before September 17.
Grupo Simec S.A.B. de C.V. is one of Mexico's leading manufacturers, processors, and distributors of SBQ steel and structural steel products.