Switzerland's stock exchange operator SIX will delist all registered shares in Meyer Burger (MBTN.S) after the solar panel maker looks set to miss a deadline to submit its 2024 annual report, the operator's SER regulation firm said on Tuesday.
The reasons for the delayed annual report have not been addressed, said SER, and are unlikely to be resolved within the requested deadline, leading to the request to delist shares.
The decision is not yet legally binding and can be appealed within 20 days, SER said.
Meyer Burger, whose operations in Europe and the United States have struggled to compete with cheaper products imported from Asia, said it would provide further information on what steps it would take next "in due course."
Trading in Meyer Burger shares, which has been halted for three months, remains suspended for the time being, SER said.
