Keyuan Petrochemicals announces Nasdaq delinquency notice

Keyuan Petrochemicals announces Nasdaq delinquency notice

3:07 AM, 25th August 2011
Keyuan Petrochemicals announces Nasdaq delinquency notice

 

NINGBO, CHINA: Keyuan Petrochemicals Inc announced it has received an additional notice from Nasdaq stating the company is not in compliance with Listing Rule 5250(c)(1) for continued listing due to not filing its form 10-Q for the three months ended June 30, 2011 by the due date of August 15, 2011.

As previously announced, the company received notices from the Nasdaq on April 7, 2011 and on May 19, 2011, stating that the company was not in compliance with Listing Rule 5250(c)(1) for continued listing due to not filing its form 10-K for the year ended December 31, 2010 by the due date of March 31, 2011 and its Form 10-Q for the three months ended March 31, 2011 by the due date of May 16, 2011, respectively.

Management would like to remind shareholders that on July 26 the Nasdaq hearings panel granted a stay of delisting of the company’s securities pending the company’s scheduled hearing to be held on August 25, 2011. As a result, the company’s securities will remain listed, however halted, on the Nasdaq global select market pending further action by the hearings panel.

(C) WOC News

 

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