BVI corporation receives Nasdaq Notice

BGS Acquisition Corp., Nasdaq-listed business company with limited liability, registered in the British Virgin Islands, received written notice from the Listing Qualifications Department of The Nasdaq Stock Market. In the Notice, dated July 5, 2013, it was indicated that BGS Acquisition is not in compliance with the Minimum Public Holders Rule, which requires BGS Acquisition to have at least 300 public holders for continued listing on the Nasdaq.

The BVI company must submit a plan to regain compliance with the listing rule no later than August 19, 2013. If the plan is accepted by the stock exchange, it may give the company an extension of up to 180 calendar days from the Notice date to achieve compliance with the Minimum Public Holders Rule. In case if company’s plan is not accepted, BGS Acquisition will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel.

The BVI company intends to submit a plan with Nasdaq on or before August 19, 2013 to regain compliance and maintain its Nasdaq listing.

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