RE/MAX : Receives New York Stock Exchange Notice Regarding Late Form 10-Q Filing
RE / MAX HOLDINGS RECEIVES NEW YORK MARKET RELEASE
REGARDING LATE FORM 10-Q ENTRY
DENVER, November 22, 2021: RE / MAX Holdings, Inc. (the “Company” or “RE / MAX Holdings”)
(NYSE: RMAX) announced today that it had failed to submit its quarterly report on Form 10-Q in a timely manner by the New York Stock Exchange (the “NYSE”) that the company had met the NYSE’s requirements for a Failed to continue listing under section 802.01E of the NYSE-Listed Company Manual for timely filing. Such notices are routinely issued by the NYSE when there are late filings with the Securities and Exchange Commission (the “SEC”).
The company was unable to file Form 10-Q in a timely manner for the third quarter of 2021 because of the ongoing assessment of the purchase accounting of certain acquisitions by independent regions and related considerations that affect the company’s internal control over financial reporting, as in Form 12b -25 of the Company’s failure to file filing with the SEC on November 10, 2021; the company’s current report on Form 8-K, filed November 3, 2021; and in Company Amendment # 1 to the Current Report on Form 8-K, filed October 6, 2021.
The NYSE notified the company that under the rules of the NYSE, the company has six months beginning November 16, 2021 to file Form 10-Q with the SEC. The company may regain compliance with NYSE listing standards prior to that date by filing Form 10-Q with the SEC.
The company is continuing to work swiftly to complete the work required to file Form 10-Q for the third quarter of 2021 and expects to file Form 10-Q for the third quarter of 2021 within the six month period.
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About RE / MAX Holdings, Inc.
RE / MAX Holdings, Inc. (NYSE: RMAX) is one of the world’s leading real estate franchisors, operating real estate agents worldwide under the RE / MAX® brand and mortgage brokers in the United States under the Motto® Mortgage brand. RE / MAX was founded in 1973 by Dave and Gail Liniger with an innovative, entrepreneurial culture that allows its agents and franchisees the flexibility to run their businesses with great independence. With more than 140,000 agents in over 8,600 offices in more than 110 countries and territories, no one in the world sells more real estate than RE / MAX based on total residential transaction pages. Dedicated to innovation and change in the real estate industry, RE / MAX launched Motto Franchising, LLC, a pioneering mortgage broker-franchisor, in 2016. Motto Mortgage has grown to over 175 offices in nearly 40 states.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by the use of words such as “believe”, “intend”, “expect”, “Estimate”, “plan”, “look out”, “project”, “foresee”, “can”, “become”, “would” and other similar words and expressions
that predict or indicate future events or trends that are not statements of historical facts. Forward-looking statements include statements relating to: the timing of the Company’s filing of Form 10-Q for the third quarter of 2021 and its regain compliance with NYSE listing standards. Forward-looking statements should not be read as a guarantee of future performance or results and do not necessarily indicate the exact times that such performance or results may be achieved. Forward-looking statements are based on information available at the time these statements are made and / or management’s good faith belief about future events and are subject to risks and uncertainties that could cause actual performance or results to be material which are expressed or suggested in the forward-looking statements. These risks and uncertainties include, without limitation, (1) the Company’s review of the matters described above is in progress, (2) the timing of the Company’s review of the matters described above is not currently foreseeable, (3) that additional adjustments may be identified, the effects of which could be material; (4) the global COVID-19 pandemic, which continues to pose significant and widespread risks to the company’s business, including the company’s agents, lenders, franchisees and employees, as well Home buyers and sellers, and the risks and uncertainties described in the “Risk Factors” and “Management Discussion and Analysis of Financial Condition and Results of Operations” sections in the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q at filed with the SEC and similar disclosures in subsequent n periodic and current reports filed with the SEC, which can be found on the Investor Relations page of the company’s website at www. are available at .remax.com and on the SEC website at www.sec.gov. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of their publication. Except as required by law, the company does not intend or undertake any obligation to update this information to reflect future events or circumstances.
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Investor contact: |
Media contact: |
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Andy Schulz |
Kerry McGovern |
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(303) 796-3287 |
(303) 796-3283 |
Disclaimer of liability
RE / MAX Holdings Inc. published this content on November 22, 2021 and is solely responsible for the information contained therein. Distributed by public, unedited and unchanged, on November 22, 2021 11:34:03 AM UTC.
Publicnow 2021
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Technical analysis trends RE / MAX HOLDINGS, INC.
| In the short term | Halftime | Long term | |
| Trends | Bearish | Bearish | Bearish |
Development of the income statement
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Sell
Obtain |
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| Medium consensus | EXCEED |
| Number of analysts | 6th |
| Last closing price |
$ 30.67 |
| Average target price |
$ 37.88 |
| Spread / Average Target | 23.5% |
