Archive for the ‘BVI Company listing’ Category

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CNC Development’s original trading symbols restored

Thursday, December 24th, 2009

British Virgin Islands-registered company CNC Development Ltd., which has recently announced the conclusion of the exchange offer with BVI holding Sing Kung Ltd. and became the owner of the full stock of Sing Kung, informed that the trading symbols for its securities have been restored to their original symbols.

In November 2009, the Financial Industry Regulatory Authority incorrectly determined that CNC Development did not comply with its reporting requirements, and initiated the change of symbols for BVI company’s securities. CNC Development, in its turn, demonstrated to the authority its full compliance with SEC filing requirements, and the trading symbols for its securities have been restored as follows: CDLVF for common shares, CDLKF for Class A Preferred shares, and CDLWF for warrants.

CNC also informed that it was never out of compliance with its reporting requirements because it had changed it status to become a foreign private issuer.

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Newly formed BVI company will be delisted from NYSE Amex

Tuesday, December 15th, 2009

The British Virgin Islands-registered company China Ceramics Co., Ltd., engaged in manufacturing of exterior ceramic tiles for commercial and residential properties in China, announced that it has received a notice from NYSE Amex. The BVI company was informed that it failed to comply with the NYSE Amex’s listing standards and therefore is subject to being delisted.

Generally, China Ceramics did not comply with the NYSE Amex’s standards from the very beginning, immediately after the business combination with Success Winner Limited which was completed in the end of November, when China Holdings Acquisition Corp., a special purpose acquisition company, merged into its wholly owned subsidiary and changed its name into China Ceramics Co., Ltd.

The BVI company has not yet determined whether to appeal the delisting of its securities. In case that China Ceramics is delisted from NYSE Amex, its securities are expected to be quoted on the OTCBB.

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BVI-registered mining company delisted from AIM

Friday, December 11th, 2009

Albidon Limited, a British Virgin Islands-registered nickel exploration and development company, which was listed on London’s Alternative Investment Market and Australian Stock Exchange, informed that it has been advised by AIM about the cancellation of its AIM listing.

AIM stock exchange enforced the cancellation on 16 November 2009, under AIM rule which states a company can remain suspended on AIM for a period of six months. The BVI company was not able to relist within this period, because the time was needed to work over the settlements under the Deed of Company Arrangement (DOCA) and to complete the audit of financial statements. The terms of the Deed of Company Arrangement, which was approved by BVI company creditors on June 18, 2009, included Albidon’s largest shareholder Jinchuan Group Limited providing funds to the company sufficient to meet creditor claims.  

Albidon requested AIM to extend the 6 month period to have the time for completing requirements for relisting, but the extension was refused. The BVI company will not apply for relisting on the AIM in the near future because of the high costs and very low trading activity.

No major shareholders of Albidon Limited and less than 9% of all shareholders are listed on the AIM. AIM-listed shareholders will be assisted to transfer their holdings to the ASX. The BVI company will seek relisting on the Australian Stock Exchange early in 2010, upon the completion of the audit and other listing requirements.

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China Networks responds NYSE Amex Listing Requests

Saturday, August 8th, 2009

BVI-registered China Networks International Holdings Ltd., whose common stock, units and warrants are to be delisted from the NYSE Amex, reported that it was informed about this, as well as of the fact that the company’s listed securities were to be suspended from trading pending satisfaction of certain listing criteria, first of all the minimum public shareholder count.

The BVI company, which failed to meet initial listing requirements following the merger of Alyst Acquisition Corporation with China Networks Media, Ltd., is now in the process of augmenting its shareholder base and addressing other requests of the Exchange. China Networks expects its securities will become eligible for quotation in the Over-the-Counter market during the period of the appeal with the Exchange.

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