盛大科技提交恢复交易计划

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北京时间4月1日消息,盛大科技宣布已经向纳斯达克上市资格部门提交恢复交易计划。

 

盛大科技曾在在3月15日的新闻发布会宣称,公司内部正在启动一项关于本公司及其附属公司2010年全年财务记录存在“潜在严重差异和未明确问题”的调查。因内部调查结论尚未明确,公司不能如期提交年度Form 10-K报告。

 

3月16日盛大科技因不符合交易规则被纳斯达克暂停交易。

 

SHANGHAI, April 1, 2011 /PRNewswire-Asia-FirstCall/ -- ShengdaTech, Inc. ("ShengdaTech" or the "Company") (Nasdaq:SDTH - News), a leading manufacturer of nano-precipitated calcium carbonate ("NPCC") in China announced that on March 31, 2011, it has submitted to the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") its plan to regain compliance with the Nasdaq listing rules.

 

As previously announced in the Company's press release dated March 15, 2011, the Company appointed a special committee of the Board of Directors to investigate potentially serious discrepancies and unexplained issues relating to the Company and its subsidiaries' financial records identified by the Company's auditors in the course of their audit of the consolidated financial statements for the fiscal year ended December 31, 2010. Due to the pendency of the internal investigation, the Company has not been able to file its Annual Report on Form 10-K in a timely manner.

 

On March 16, 2011, the Listing Qualifications Department of Nasdaq advised the Company that due to the Company's inability to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2010 with the Securities and Exchange Commission in a timely manner, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1). Nasdaq also requested that the Company submit, prior to March 31, 2011, a plan to regain compliance. In its plan, the Company (1) noted that although it is uncertain at this time when the special investigation will be completed, the Company aims to file its 2010 Form 10-K (as well as any other reports due prior to the end of such period), thereby becoming compliant with the Nasdaq listing rules, within 180 days of March 16, 2011 and (2) requested that Nasdaq grant the Company through September 12, 2011 (or the period as it deems appropriate) to regain compliance with the listing rules.