05:58 AM EDT, 05/22/2024 (MT Newswires) -- VEON (VEON) said Wednesday it received a notice from Nasdaq on Monday indicating that it was out of compliance with stock market rules for failing to submit its 2023 annual report on time.

The company issued a March 14 press release about an anticipated delay in its submission and filed a May 1 notification on the topic to the Securities and Exchange Commission.

The company said the delay was the result of challenges in appointing a qualified independent auditor following its exit from Russia.

VEON has until July 19 to submit a plan to regain compliance. Nasdaq may grant it up to 180 calendar days afterward to come back into compliance.