NEW YORK, July 11, 2013 /PRNewswire/ -- BGS
Acquisition Corp. (NASDAQ: BGSC) (the "Company") received written
notice (the "Notice") on July 5, 2013
from the Listing Qualifications Department of The Nasdaq Stock
Market ("Nasdaq") indicating that the Company is not in compliance
with Listing Rule 5550(a)(3) (the "Minimum Public Holders Rule"),
which requires the Company to have at least of 300 public holders
for continued listing on the exchange.
The Notice stated that no later than August 19, 2013, the Company is required to
submit a plan to regain compliance with the Minimum Public Holders
Rule. If Nasdaq accepts the Company's plan, Nasdaq may grant the
Company an extension of up to 180 calendar days from the date of
the Notice to evidence compliance with the Minimum Public Holders
Rule. If Nasdaq does not accept the Company's plan, the Company
will have the opportunity to appeal the decision in front of a
Nasdaq Hearings Panel. The Company intends to submit a plan with
Nasdaq on or before August 19, 2013
to regain compliance and maintain its Nasdaq listing.
About BGS Acquisition Corp.
BGS Acquisition Corp. is a
blank check company incorporated as a British Virgin Islands business company with
limited liability, formed for the purpose of acquiring or merging
with an operating business in the United
States or Latin
America.
Safe Harbor
This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements are
subject to known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Statements preceded or followed by or that otherwise
include the words "believes," "expects," "anticipates," "intends,"
"projects," "estimates," "plans," and similar expressions or future
or conditional verbs such as "will", "should", "would", "may" and
"could" are generally forward-looking in nature and not historical
facts. Forward-looking statements in this release also include
statements about business and economic trends. Investors should
also consider the areas of risk described under the heading
"Forward Looking Statements" and those factors captioned as "Risk
Factors" in the Company's periodic reports under the Securities
Exchange Act of 1934, as amended, or in connection with any
forward-looking statements that may be made by the Company.
The Company also disclaims any duty to comment upon or correct
information that may be contained in reports published by the
investment community.
For additional information please
contact:
Cesar Baez
Chief Executive Officer, BGS
cbaez@bgsc.us
SOURCE BGS Acquisition Corp.