MORRISVILLE, N.C., May 16, 2016 /PRNewswire/ -- Alliance One International, Inc. (NYSE: AOI) today announced that on May 12, 2016 the New York Stock Exchange ("NYSE") granted an extension for continued listing and trading until June 30, 2016, subject to reassessment on an ongoing basis.
The extension for continued listing and trading provides Alliance One until June 30, 2016 to file with the Securities and Exchange Commission ("SEC") an amended Form 10-K for the fiscal year ended March 31, 2015, an amended Form 10-Q for the period ended June 30, 2015 and Form 10-Q reports for the respective periods ended September 30, 2015 and December 31, 2015. Alliance One has the ability to request an additional extension, if necessary.
As previously disclosed, Alliance One is in the process of completing an investigation and review of its historical financial information and control environment related primarily to discrepancies in accounts receivable and inventory at its Kenyan subsidiary discovered in the course of implementing its previously announced restructuring and cost-saving initiatives.
Alliance One intends to file the Form 10-K and Form 10-Q amendments and late Form 10-Q reports described above with the SEC as soon as possible and to host a publicly accessible conference call with analysts and investors to discuss its results and findings from the Kenyan investigation. Alliance One believes that it is nearing completion of the investigation and should be able to make these filings with the SEC within the time permitted by the NYSE extension.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events and may be impacted by the current investigation noted herein. Such statements include, but are not limited to, statements about the completion of its investigation and review with respect to the discrepancies involving its Kenyan subsidiary described above and its filing with the SEC of the Form 10-K and Form 10-Q amendments and late Form 10-Q reports described above, and other plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based on the current beliefs and expectations of management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results may differ materially from those currently anticipated expected or projected. The following factors, among others, could cause actual results to differ from those expressed or implied by the forward-looking statements: the occurrence of unanticipated events or developments that could delay the completion of Alliance One's investigation and review with respect to the discrepancies involving its Kenyan subsidiary described above and its filing with the SEC of the Form 10-K and Form 10-Q amendments and late Form 10-Q reports described above, the ability to obtain any extension beyond June 30, 2016 of the NYSE's requirement for the filing of the Form 10-K and Form 10-Q amendments and late Form 10-Q reports described above, and Alliance One's ability to satisfy the NYSE's continued listing standards. Additional factors that could cause Alliance One's results to differ materially from those expressed or implied by forward-looking statements can be found in Alliance One's most recent Annual Report on Form 10-K and the other filings with the Securities and Exchange Commission (the "SEC") which are available at the SEC's Internet site (http://www.sec.gov).
About Alliance One International, Inc.
Alliance One International is a leading independent global leaf merchant. For more information about Alliance One, visit Alliance One's website at www.aointl.com.
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SOURCE Alliance One International, Inc.
Joel Thomas, (919) 379-4300
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