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.