Business
Accord Announces Delay in Filing Annual Financial Statements and Voluntary Application for a Management Cease Trade Order
Accord Financial Corp. (“ Accord ” or the “ Company ”) (TSX: ...
About this update from Accord Financial Corp.
[{"type":"text","content":"Accord Announces Delay in Filing Annual Financial Statements and Voluntary Application for a Management Cease Trade Order\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n Accord Financial Corp. (“\n \n Accord\n \n ” or the “\n \n Company\n \n ”) (TSX: ACD) announced today that it has made a voluntary application to the applicable Canadian securities regulatory authorities for a temporary management cease trade order (“\n \n MCTO\n \n ”) under National Policy 12-203 –\n \n Management Cease Trade Orders\n \n (“\n \n NP 12-203\n \n ”), which, if granted, will prohibit trading in securities of the Company by directors and officers of the Company until such time as the Required Filings (as defined below) and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted. During the period in which the MCTO is effective, the general public, who are not insiders of the Company, would continue to be able to trade in the Company’s listed securities. The MCTO application has been made but there is no guarantee or assurance that the MCTO will be granted.\n \n\n The Company will be unable to file its audited annual consolidated financial statements for the year ended December 31, 2024, and the related management’s discussion and analysis, annual information form for the year ended December 31, 2024 and chief executive officer and chief financial officer certificates for this period (collectively, the “\n \n Required Filings\n \n ”) before the March 31, 2025 filing deadline (the “\n \n Filing Deadline\n \n ”). The Company’s inability to make the Required Filings by the Filing Deadline is due to the Company’s auditor not being able to complete its audit procedures in advance of the Filing Deadline. The Company continues to work closely with its auditor and currently expects that it will be in a position to file the Required Filings on or before April 11, 2025. The MCTO would remain in effect until the Required Filings are filed by the Company.\n \n\n The Company intends to provide information in accordance with NP 12-203 with respect to further developments in respect of this matter promptly following their occurrence, including the issuance of bi-weekly statu...