Tritium Will Not Appeal Nasdaq Delisting Determination
BRISBANE, Australia, May 22, 2024 (GLOBE NEWSWIRE) — Tritium DCFC Limited¹ (OTC: DCFCQ) (“Tritium” or the “Company”), a global developer and manufacturer of direct current (“DC”) fast chargers for electric vehicles, previously reported, on April 18, 2024, that the Company and three of its Australian subsidiaries, Tritium Pty Ltd², Tritium Holdings Pty Ltd³ and Tritium Nominee Pty Ltd⁴ (together with the Company, the “Companies”) (i) were insolvent or likely to become insolvent, (ii) a voluntary administrator should be appointed under the Australian Corporations Act 2001 (the “Act”), and (iii) to appoint Peter James Gothard, James Douglas Dampney and William Martin Colwell of KPMG as joint and several administrators (together, the “Administrators”) pursuant to section 436A of the Act. Separately, on 19 April 2024, Shaun Fraser, Matthew Hutton, Kathy Sozou and Jamie Harris of McGrath Nicol were appointed Receivers and Managers of the Companies (excluding Tritium Nominee Pty Ltd.) and have assumed control of the assets, operations and affairs of the Companies subject to their appointment. The powers of the directors of the Companies are suspended during the administration period.