お知らせ • May 23
Cazoo Receives Non-Compliance Notice from NYSE Regarding 20-F Filing Delinquency Cazoo Group Ltd. (“Cazoo” or “the Company”) announced receipt of a written notice (the “Notice”) from the New York Stock Exchange (the “NYSE”) on May 16, 2024 stating that the Company is not in compliance with the NYSE continued listing standards set in Section 802.01E of the NYSE Listed Company Manual, which requires timely filing of all required periodic reports with the Securities and Exchange Commission (the “SEC”), because of the Company’s failure to timely file its Form 20-F for the fiscal year ended December 31, 2023 (the “2023 Form 20-F”). As previously disclosed on May 1, 2024, Cazoo was unable to file its 2023 Form 20-F on or before the prescribed filing date without unreasonable effort or expense. As a result of the significant amount of time devoted by management to pursue strategic initiatives, and the Company’s pivot to the marketplace model, which has also required a dedication of the Company’s limited personnel and resources, and because of our liquidity concerns whereby we would not be able to demonstrate our ability to continue as a going concern in the medium- to long-term, the Company was unable to complete the preparation and review of its financial statements and disclosures for the 2023 Form 20-F. Moreover, as a result of the foregoing, the Company does not currently intend to file the 2023 Form 20-F. In accordance with Section 802.01E of the NYSE Listed Company Manual, the NYSE will closely monitor the status of the Company’s late filing and related public disclosures for up to six months from the date of the filing delinquency (the “Initial Cure Period”). The Company’s Class A ordinary shares will continue to trade on the NYSE during the Initial Cure Period, subject to the Company’s compliance with other continued listing requirements. Notwithstanding the foregoing, if circumstances warrant, the NYSE may commence delisting proceedings at any time. お知らせ • May 03
Cazoo Group Ltd announced delayed 20-F filing On 05/01/2024, Cazoo Group Ltd announced that they will be unable to file their next 20-F by the deadline required by the SEC. お知らせ • Mar 06
Paul Whitehead to Step Back as CEO of Cazoo Group Ltd Cazoo Group Ltd. announced that following the conclusion of the Board’s review of the business and with a new strategic direction agreed and in place, Paul Whitehead has made the decision that now is the right time to step back as CEO. Paul has been with Cazoo for more than five years, having joined at its inception as Chief Operating Officer. Since his appointment as CEO, Paul has successfully focused Cazoo on the business’s core UK retail opportunity, delivered improved gross profit per unit quarter on quarter, significantly reduced costs and extended the company's cash runway. He oversaw completion of a restructure of the company's debt before leading the Board’s recent strategic review of Cazoo’s business model. Paul will step back as CEO at the end of March but will remain with Cazoo until at least mid-May as a strategic adviser to support its transition to the new business model. New Risk • Mar 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Negative equity (-UK£78m). Earnings have declined by 45% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 11x increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (US$22.5m market cap). New Risk • Feb 18
New major risk - Revenue and earnings growth Earnings have declined by 45% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Negative equity (-UK£78m). Earnings have declined by 45% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 11x increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$23.2m market cap). お知らせ • Dec 12
Cazoo Group Ltd Announces Duncan Tatton-Brown Has Stepped Down as Non-Executive Director Trainline plc announced that Duncan Tatton-Brown has stepped down as a Non-executive Director of Cazoo Group Ltd. with effect from 7 December 2023. Duncan will continue his appointment as Chair of the Audit and Risk Committee of Trainline plc. 