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CMQ Cathay Merchant Grp.

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Share Name Share Symbol Market Type
Cathay Merchant Grp. AMEX:CMQ AMEX Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Cathay Merchant Group, Inc. Submits Plan of Compliance with the American Stock Exchange

01/05/2007 2:30pm

Business Wire


Cathay Merchant (AMEX:CMQ)
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On February 27, 2007, Cathay Merchant Group, Inc. (AMEX:CMQ) (the “Company”) received notice from the staff of the American Stock Exchange (the “Exchange”) indicating that the Company is not in compliance with Section 704 of the Amex Company Guide, which requires a listed company to hold meetings of its shareholders annually to elect directors and take action on other corporate matters. Specifically, the Company did not hold an annual meeting of its stockholders during the five month transition year ended December 31, 2005, and the year ended December 31, 2006. The Company was afforded the opportunity to submit a plan of compliance to the Exchange and presented the plan on April 11, 2007. On April 24, 2007, the Exchange notified the Company that it accepted the Company’s plan of compliance and granted the Company an extension until May 29, 2007, to regain compliance with the continued listing standards. The Company will be subject to periodic review by staff of the Exchange during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the Exchange.

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