Unisys Corporation (NYSE: UIS) (“Unisys” or the “Company”) received notice from the New York Stock Exchange (the “NYSE”) on November 15, 2022 stating that, because the Company has not filed its timely quarterly report on Form 10-Q for the period ending September 30, 2022 (the “Quarterly Report”), the company is not in compliance with Section 802.01E of the NYSE Listed Companies Handbook, which requires NYSE-listed companies to file all periodic reports in a timely manner with the Securities and Exchange Commission (the “SEC”).
As previously disclosed by the Company in its Form 12b-25 Late Filing Notice, filed with the SEC on November 7, 2022, the Company was unable to file the Quarterly Report for the period ended September 30, 2022. within the prescribed time due to an internal investigation regarding certain disclosure controls and procedures, including the dissemination and communication of information within certain aspects of the organization. Notwithstanding the foregoing, the Company does not expect the investigation to cause changes in the financial results in the Company’s previously released financial statements or to impact the financial results in the unaudited financial statements of the Company. Company for the period ending September 30, 2022. .
The NYSE notice has no immediate effect on the listing of the Company’s common stock on the NYSE. The NYSE notice informed the Company that, in accordance with NYSE rules, the Company has six months, until May 14, 2023, to file the quarterly report and regain compliance with NYSE listing standards. If the Company does not file the Quarterly Report within the six-month period, the NYSE may, at its sole discretion, grant an extension of up to an additional six months for the Company to return to compliance, depending on the specific circumstances.
The Company expects to file the quarterly report with the SEC in the coming days and, in any event, before the six-month deadline stipulated by the NYSE.
About Unisys
Unisys is a technology solutions company that delivers successful results to the most demanding organizations around the world. Unisys offerings include digital workplace solutions, cloud solutions, applications and infrastructure, enterprise IT solutions, and business process solutions. For more information about how Unisys serves its commercial, financial, and government customers, visit unisys.com.
Forward-looking statements
All statements in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally accompanied by words such as “may”, “will”, “anticipate, “intend”, “expect” and similar expressions which predict or indicate future events or trends or which are not statements of historical matters. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. In addition, certain forward-looking statements are based on assumptions about future events which may not prove to be accurate. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the control of the Company and which could materially affect the results. Factors that could cause actual results to differ materially from current expectations include, among others, the impact of the audit and finance committee investigation; the impact of management’s conclusion, in consultation with the Audit and Finance Committee, that material weaknesses existed in the Company’s disclosure controls and procedures and in internal control over the financial information; evaluating and implementing remediation efforts designed and implemented to improve the Company’s control environment; the potential identification of one or more additional material weaknesses in the Company’s internal control over financial reporting of which the Company is not currently aware or which have not been detected; and those more fully described in the Company’s periodic filings with the SEC. The forward-looking statements contained in this report are made as of this date, and the Company assumes no obligation to update such information except as required by applicable law.
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