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.