Brera Holdings Announces Anticipated Receipt of Nasdaq Additional Deficiency Notice
February 07 2025 - 3:15PM
Brera Holdings PLC (“Brera Holdings” or “the Company”) (Nasdaq:
BREA), an Ireland-based, Nasdaq-listed, international holding
company focused on expanding its global portfolio of men's and
women's sports clubs through a multi-club ownership (“MCO”)
approach, today announced that on February 3, 2025, the Company
received formal notice from the Listing Qualifications Staff (the
“Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company
does not satisfy the annual meeting requirement set forth in Nasdaq
Listing Rule 5620(a) (the “Annual Meeting Rule”) as the Company did
not hold an annual meeting of shareholders within twelve months of
the end of the Company’s previous fiscal year ended December 31,
2023.
In accordance with Nasdaq Listing Rule
5810(c)(2)(G), the notice provided the Company with a period of 45
calendar days from the date of the notice, or March 20, 2025, to
submit a plan to regain compliance with the Annual Meeting Rule.
The Staff has the discretion to grant the Company an exception
through June 30, 2025, to regain compliance with the Annual Meeting
Rule.
Brera Holdings intends to hold an annual meeting
of shareholders within March 2025.
ABOUT BRERA HOLDINGS PLC
Brera Holdings PLC (Nasdaq: BREA) is dedicated
to expanding its social impact football business by developing a
global portfolio of emerging football and sports clubs. Building on
the legacy of Brera FC, which it acquired in 2022, the Company aims
to create opportunities for tournament prizes, sponsorships, and
professional consulting services. Brera FC, recognized as "The
Third Team of Milan," has been crafting an alternative football
legacy since its founding in 2000. The club also organizes the
FENIX Trophy, a nonprofessional pan-European tournament
acknowledged by UEFA. This tournament, which has been referred to
as "the Champions League for Amateurs" by BBC Sport, has garnered
significant media coverage, including from ESPN.
In its efforts to broaden its reach, Brera
expanded into Africa in March 2023 by establishing Brera Tchumene
FC in Mozambique, which quickly rose to the First Division after
winning its post-season tournament. In April 2023, the Company
acquired a 90% stake in the North Macedonian first-division team
Fudbalski Klub Akademija Pandev, now known as Brera Strumica FC.
Additionally, in June 2023, Brera made a strategic investment in
Manchester United PLC, realizing a 74% gain. The Company has
further diversified its portfolio by acquiring a majority stake in
UYBA Volley, an Italian women's professional volleyball team, in
July 2023, assuming control of Bayanzurkh Sporting Ilch FC, a
Mongolian National Premier League team, which became Brera Ilch FC,
in September 2023, and establishing a joint stock company for the
North Macedonian women's football club Tiverija Strumica, now known
as Brera Tiverija FC, a wholly-owned subsidiary of Brera Strumica
FC, in June 2024.
On December 31, 2024, Brera signed of an
agreement to acquire majority ownership of SS Juve Stabia srl, an
Italian Serie B football club known as “The Second Team of Naples,”
which will be conducted in a multi-step process, and marks a
significant expansion of the Company’s MCO model. As of January 10,
2025, Brera holds a 34.62% equity ownership interest in Juve
Stabia, currently in a playoff-qualifying fifth place position in
the Serie B standings. With a strategic emphasis on bottom-up value
creation, innovation-driven growth, and socially impactful
outcomes, Brera Holdings has established itself as a
forward-thinking leader in the global sports industry. For more
information, visit www.breraholdings.com.
Cautionary Note
Regarding Forward-Looking Statements
This press release contains forward-looking
statements that are subject to various risks and uncertainties.
Such statements include statements regarding the Company's ability
to grow its business and other statements that are not historical
facts, including statements which may be accompanied by the words
"intends," "may," "will," "plans," "expects," "anticipates,"
"projects," "predicts," "estimates," "aims," "believes," "hopes,"
"potential" or similar words. Actual results could differ
materially from those described in these forward-looking statements
due to a number of factors, including without limitation, the
Company's ability to continue as a going concern, the popularity
and/or competitive success of the Company's acquired football and
other sports teams, the Company's ability to attract players and
staff for acquired clubs, unsuccessful acquisitions or other
strategic transactions, the possibility of a decline in the
popularity of football or other sports, the Company's ability to
expand its fanbase, sponsors and commercial partners, general
economic conditions, and other risk factors detailed in the
Company's filings with the SEC. The forward-looking statements
contained in this press release are made as of the date of this
press release, and the Company does not undertake any
responsibility to update such forward-looking statements except in
accordance with applicable law.
Company Contact Information: Dan McClory,
Executive Chairman, Brera Holdings PLC
Email: dan@breraholdings.com
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