Talenthouse AG, the talent platform for the creative community, announced it filed an appeal with the independent appeal body of SIX Swiss Exchange AG against the decision of the regulatory board of SIX Group AG to delist the company's registered shares listed on SIX.

The group has now requested a suspension of these appeal proceedings to pursue the ongoing restructuring without being exposed to the constant risk that the delisting is confirmed. In a decision this week, the independent appeal body approved the suspension of the proceedings until 18 March 2024.

Following the suspension of the proceedings, SIX Exchange Regulation AG also announced that the trading in the shares of Talenthouse will be suspended after market close on 28 December 2023 until further notice.

The company said it welcomes this step. In the view of its Board of Directors, the step is a logical consequence of the suspension of the appeal proceedings to protect the market.

Talenthouse added that the suspension of the delisting procedure is another important step on the way to the restructuring of the company. The board of directors is firmly convinced that the restructuring can be successfully completed with the support of all shareholders, creditors and other stakeholders, which will allow the delisting to be cancelled and trading in the shares of Talenthouse to resume again.

Earlier this year, Talenthouse announced it had entered into a term sheet with investors to provide short-term liquidity in order to tackle urgently required restructuring measures.

In February, the SIX Swiss stock exchange suspended Talenthouse’s shares following the failure of the company to file its 2022 annual report. At the same time, many creatives who had worked via the platform came forward to reveal that they had not been paid for the work they had done.

Later in the month, the company announced a strategic review and the departure of the company’s CEO and Chief Corporate Development Officer. The company was then served with a decision by the regulatory board of SIX Group AG to delist its registered shares.