FRAMINGHAM, Mass. and SYDNEY, Sept. 1 /PRNewswire-FirstCall/ -- HeartWare International, Inc. (Nasdaq: HTWR) (ASX: HIN) today confirmed that trading of its CHESS Depositary Interests ("CDIs") on the Australian Securities Exchange ("ASX") was temporarily suspended for the reasons stated below. In consequence, trading of the Company's common stock on NASDAQ is also temporarily suspended. Based on discussions with representatives of NASDAQ and the ASX, the Company believes that trading will recommence on both the ASX and NASDAQ exchanges tomorrow (September 2, 2009).
On August 14, 2009, the Company filed its Quarterly Report on Form 10-Q for the 3 and 6 month period ended June 30, 2009 ("Quarterly Report") with both the ASX and the Securities and Exchange Commission. The Quarterly Report is prepared under U.S. generally accepted accounting principles and otherwise in compliance with the requirements of the Securities Exchange Act of 1934, as amended.
As permitted by ASX Listing Rules, the Company is entitled to file its Quarterly Report with the ASX for the purposes of satisfying Australian financial reporting requirements. However, it is a technical requirement of the ASX Listing Rules now that HeartWare is headquartered in the United States that, in addition to the Company's US reporting obligations, the Company's independent public accountant, Grant Thornton, must provide a brief review to Australian stockholders. In filing its Quarterly Report with the ASX, this supplemental review was omitted from our filing with ASX and, in consequence, the Company's securities on the ASX have been temporarily suspended pending filing of the relevant document (with NASDAQ trading being automatically suspended in consequence). Grant Thornton's review will be completed and file
|SOURCE HeartWare International, Inc.|
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