CTDC Received NASDAQ Listing Compliance Notice
12 Dezember 2011 - 2:00PM
China Technology Development Group Corporation (Nasdaq:CTDC)
("CTDC" or the "Company"), a growing clean energy group that
provides solar energy products and solutions, based in Hong Kong
with sales offices in Milan and Frankfurt, and facilities in China
today announced that CTDC received a notice from The NASDAQ Stock
Market stating that the closing bid price of the Company's common
stock was below $1.00 per share for 30 consecutive business days
and that, as a result, the Company no longer meets The NASDAQ
Capital Market's minimum bid price requirement for continued
listing set forth in Listing Rule 5550(a)(2).
The notice of noncompliance has no immediate effect on the
listing or trading of the Company's common stock on The NASDAQ
Capital Market. Under the Listing Rules, the Company has 180
calendar days, or until May 29, 2012, to regain compliance. If at
any time before May 29, 2012 the closing bid price of the Company's
common stock is at least $1.00 for a minimum of 10 consecutive
business days, the Company will regain compliance with the minimum
bid price requirement and the matter will be closed. In the event
the Company does not regain compliance by May 29, 2012, the Company
may be eligible for an additional 180 calendar day grace period,
provided that the Company meets all initial listing standards for
The NASDAQ Capital Market other than the minimum bid price
requirement.
The Company intends to actively monitor the bid price for its
common stock and will consider available options to resolve the
deficiency and regain compliance with the NASDAQ minimum bid price
requirement.
About CTDC:
CTDC is a fast growing clean energy group in China based in Hong
Kong, providing solar energy products and solutions to the global
market under the "LSP" brand. CTDC's major shareholder is China
Merchants Group, a state-owned conglomerate in China
(http://www.cmhk.com).
For more information, please visit http://www.chinactdc.com
Forward-Looking Statement Disclosure:
It should be noted that certain statements herein which are not
historical facts, including, without limitation, those regarding:
A) the timing of product, service and solution deliveries; B) the
Company's ability to develop, implement and commercialize new
products, services, solutions and technologies; C) expectations
regarding market growth, developments and structural changes; D)
expectations regarding the Company's product volume growth, market
share, prices and margins; E) expectations and targets for the
Company's results of operations; F) the outcome of pending and
threatened litigation; G) expectations regarding the successful
completion of contemplated acquisitions on a timely basis and the
Company's ability to achieve the set targets upon the completion of
such acquisitions; and H) statements preceded by "believe,"
"expect," "anticipate," "foresee," "target," "estimate,"
"designed," "plans," "will" or similar expressions are
forward-looking statements. These statements are based on
management's best assumptions and beliefs in light of the
information currently available to it. Because they involve risks
and uncertainties, actual results may differ materially from the
results that the Company currently expects. Factors that could
cause these differences include the risk factors specified on the
Company's annual report on Form 20-F for the year ended
December 31, 2010 under "Item 3.D Risk Factors." Other unknown
or unpredictable factors or underlying assumptions subsequently
proving to be incorrect could cause actual results to differ
materially from those in the forward-looking statements. The
Company does not undertake any obligation to update publicly or
revise forward-looking statements, whether as a result of new
information, future events or otherwise, except to the extent
legally required.
CONTACT: Weining Zhang, Chief Communications officer
Anxiang HU, Senior IR Manager
China Technology Development Group Corporation
Tel: +1 415 358 0899
Email: ir@chinactdc.com
Web: www.chinactdc.com
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