UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2016
Commission File Number 1-11176
GRUPO SIMEC S.A.B. DE C.V.
(exact name of the Registrant as specified in its charter)
Group Simec
(translation of Registrant’s name into English)
Av. Lázaro Cárdenas 601
Colonia la Nogalera
Guadalajara, Jalisco
México 44440
(address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
| Form 20-F | ☒ | Form 40-F | ☐ |
Indicate by check mark whether the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)
| Yes | ☐ | No | ☒ |
Indicate by check mark whether the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)
| Yes | ☐ | No | ☒ |
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
| Yes | ☐ | No | ☒ |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: May 31, 2016
| GRUPO SIMEC, S.A.B. DE C.V. | ||
| By: |
/s/ Ing. Luis García Limón | |
| Name: | Ing. Luis García Limón | |
| Title: | Chief Executive Officer | |
| By: |
/s/ Mario Moreno Cortez | |
| Name: | Mario Moreno Cortez | |
| Title: | Chief Financial Officer |
Exhibit 99.1
| PRESS RELEASE | Contact: | Mario Moreno Cortez |
| Grupo Simec, S.A.B. de C.V. | ||
| Calzada Lázaro Cárdenas 601 | ||
| 44440 Guadalajara, Jalisco, México | ||
| +52 55 1165 1025 | ||
| +52 33 3770 6734 |
GRUPO SIMEC ANNOUNCES THE TEMPORARY SUSPENSION IN THE TRADING OF ITS STOCK ON THE MEXICAN STOCK EXCHANGE AS A RESULT OF A DELAY IN FILING ITS 2015 ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS IN MEXICO
Guadalajara, Jalisco, May 31, 2016, Grupo Simec, S.A.B. de C.V. (the “Company”) announces that, as previously disclosed by the Company in the press release attached as Exhibit 99.1 to a Form 6-K furnished on April 29, 2016 to the Securities and Exchange Commission, the 2015 external audit report for Republic Steel—one of the Company’s subsidiaries in the United States—has not yet been completed due to a difference of opinion on the value assigned to certain fixed assets of Republic Steel’s plants, in particular the Lorain, Ohio plant, that temporarily suspended their activities due to the oil market conditions and to which the auditors intend to assign a liquidation value regardless of the U.S.$115 million invested in the plants during 2012 and 2013.
Consequently, the Company has not yet been able to file its 2015 annual report and audited financial statements with the Mexican National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores, the “CNBV”) and the Mexican Stock Exchange (Bolsa Mexicana de Valores, S.A.B. de C.V., the “BMV”) as required by the Mexican Securities Market Law (Ley del Mercado de Valores) and the General Provisions Applicable the Issuers and Other Securities Market Participants (Disposiciones de Carácter General Aplicables a las Emisoras de Valores y a Otros Participantes del Mercado de Valores). As a result, on May 30, 2016, the BMV announced the suspension in the trading of the Company’s stock on the BMV identified with the ticker symbol “SIMEC B.”
As of today, the audit of the Company’s Mexican and Brazilian subsidiaries has been concluded and the Company is working to complete and file its 2015 annual report and audited financial statements with the CNBV and the BMV as soon as possible.
About Grupo Simec
Grupo Simec is a diversified manufacturer, processor and distributor of SBQ steel and structural steel products with production and commercial operations in the United States, Mexico, Canada and Brazil. Grupo Simec is also an important producer of structural and light structural steel products in Mexico in terms of sales volume. Grupo Simec’s SBQ products are used across a broad range of highly engineered end-user applications, including axles, hubs and crankshafts for automobiles and light trucks, machine tools and off-highway equipment. Its structural steel products are mainly used in the residential and non-residential construction market and other construction applications.
Legal Disclaimer
This press release contains certain forward-looking statements that reflect the current views and/or expectations of Grupo Simec and its management with respect to its performance, business and future
events. We use words such as “believe,” “anticipate,” “plan,” “expect,” “intend,” “target,” “estimate,” “project,” “predict,” “forecast,” “guideline,” “should” and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. Grupo Simec is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.