ChinaCache Receives Delisting Notice from Nasdaq but Plans to Appeal
09 7월 2019 - 9:00PM
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 that on July 2, 2019 it received a notification letter
(the “Notification Letter”) from The Nasdaq Stock Market LLC (the
“NASDAQ”) that its American depositary shares would be delisted
from the NASDAQ Stock Market. The Notification Letter states that
the staff (the “Staff”) of NASDAQ has determined to deny the
Company’s request for an extension of time to regain compliance
with the filing requirement in NASDAQ Listing Rule 5250(c)(1). The
Staff also cited two additional bases for delisting, which are (i)
non-compliance with NASDAQ Listing Rule 52560(b)(1) due to the
Company’s failure to timely disclose certain information regarding
the arrest of the Company’s former chief executive officer Mr. Song
Wang and the criminal investigation into the Company as well as
(ii) public interest concerns pursuant to NASDAQ Listing Rule 5101
due to the failure of the Company’s senior management to promptly
advise the Company’s board of directors of Mr. Wang’s arrest and
the investigation of the Company.
The Company plans to appeal this determination
and will request a hearing before a NASDAQ Hearings Panel, in
accordance with NASDAQ listing rules. According to the Notification
Letter, hearings are typically scheduled to occur approximately 30
to 45 days after the date of the hearing request.
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 DepartmentChinaCache
International HoldingsTel: +86 10 6408-5686Email:
ir@chinacache.com
ChinaCache (NASDAQ:CCIH)
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