Plans to Resume Trading on Over-the-Counter Markets
BEIJING, Sept. 10, 2019 (GLOBE NEWSWIRE) -- ChinaCache International Holdings Ltd. (“ChinaCache” or the “Company”) (Nasdaq GS: CCIH), a leading total solutions provider of Internet content and application delivery services in China, today announced in a recent Form 6-K report that on September 4, 2019, Nasdaq issued a letter to the Company stating that The Nasdaq Hearings Panel (the “Panel”) has determined to delist the Company’s shares from The Nasdaq Stock Market.
The delisting determination stated that Nasdaq will complete the delisting by filing a Form 25 with the United States Securities and Exchange Commission (the “SEC”) after applicable appeal periods have lapsed. The Company does not intend to appeal the Panel’s decision.
Mr. Bin Liu, acting CEO commented, “ChinaCache remains a publicly quoted company and will strictly adhere to SEC compliance protecting the interest of the Company’s investor base. Following the filing and acceptance of the delinquent quarterly and fiscal year end reports with the Securities Exchange Commission pursuant to the Exchange Act of 1934, ChinaCache intends to follow applicable Nasdaq listing standards, notwithstanding its delisting. Additionally, as of the date of this release, the Company continues to make progress with the completion of its delinquent annual report and intends to file these reports with the SEC. The Company intends to complete and file its Form 20-F for the fiscal year ended December 31, 2018 as soon as possible with the SEC. Thereafter, the Company intends to work with a market maker to file a Form 211 with FINRA to enable the Company’s shares to begin trading on the over-the-counter markets.
“While there can be no assurances that the Company will be able to execute its plan. If the shares resume trading on the over-the-counter markets, the shares may trade less frequently and in smaller volumes than securities traded on Nasdaq. While trading on the over-the-counter-markets the Company expects to apply for a Nasdaq listing at a future time.” concluded Mr. Liu.
About ChinaCache International Holdings Ltd.
ChinaCache International Holdings Ltd. is a leading total solutions provider of Internet content and application delivery services in China. Through its distinctive 3-tier Internet ecosystem, ChinaCache also offers Internet data center management, Internet Exchange operations and cloud hosting services. ChinaCache's network is interconnected with the incumbent carriers as well as other local Internet & broadband service providers in China. With two decades of experience in developing customized solutions for China's complex Internet infrastructure, ChinaCache has helped enterprises, SME clients, government agencies and other organizations enhance the reliability and scalability of their online services and applications. To learn more about ChinaCache and how it has improved end-user experience, please visit ir.chinacache.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. ChinaCache may also make written or oral forward-looking statements in its reports filed or furnished to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statements, including but not limited to the following: the Company's goals and strategies, expansion plans, the expected growth of the content and application delivery services market, the Company's expectations regarding keeping and strengthening its relationships with its customers, and the general economic and business conditions in the regions where the Company provides its solutions and services. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and ChinaCache undertakes no duty to update such information, except as required under applicable law.
For investor and media inquiries please contact:
Investor Relations Department
ChinaCache International Holdings
Tel: +86 10 6408-5686
Source: ChinaCache International Holdings Ltd.