Current Report Filing (8-k)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

 

FORM 8-K

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of Earliest Event Reported): March 2, 2016

 

SUTOR TECHNOLOGY GROUP LIMITED

 

(Exact name of registrant as specified in its charter)

 

Nevada	001-33959	87-0578370
(State of Incorporation)	(Commission File No.)	(IRS Employer ID No.)

 

No. 8, Huaye Road

Dongbang Industrial Park

Changshu, China 215534

 

(Address of Principal Executive Offices)

 

(86) 512-52680988

Registrant’s Telephone Number, Including Area Code:

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

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Written communications pursuant to Rule 425 under the Securities Act (17 CFR.425)

 

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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

 

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

 

On February 25, 2016, Sutor Technology Group Limited (the “Company”) received a written notice from the Listing Qualifications department of the Nasdaq Stock Market ("Nasdaq Staff") indicating that the Company is not in compliance with the Nasdaq’s filing requirements for continued inclusion set forth in Listing Rule 5250(c)(1) (the “Rule”) because the Company had not filed its Form 10-K for the period ended June 30, 2015 and Forms 10-Q for the periods ended September 30, 2015 and December 31, 2015.

 

Unless the Company requests an appeal of this determination to a Hearings Panel, trading of the Company's common stock will be suspended at the opening of business on March 7, 2016, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market. Following the suspension of trading on Nasdaq, the Company’s securities may be eligible to continue to be quoted on the OTC Bulletin Board or in the “Pink Sheets.”

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit	Description
99.1	Press release dated March 2, 2016.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Sutor Technology Group Limited

 

Date: March 2, 2016

 

/s/ Lifang Chen                     

Chief Executive Officer

 

 

 

 

EXHIBIT INDEX

 

Exhibit	Description
99.1	Press release dated March 2, 2016.

 

 

 

Exhibit 99.1

 

Sutor Technology Group Limited Receives Nasdaq Notice of Noncompliance with Listing Rules

 

CHANGSHU, China, March 2, 2016 -- Sutor Technology Group Limited (the "Company" or "Sutor") (Nasdaq: TOR), one of the leading China-based manufacturers and customized service providers for fine finished steel products used by a variety of downstream applications, today announced that, on February 25, 2016, it received a written notice from the Listing Qualifications department of the Nasdaq Stock Market (“Nasdaq Staff”) indicating that the Company is not in compliance with the Nasdaq’s filing requirements for continued inclusion set forth in Listing Rule 5250(c)(1) (the "Rule") because it had not filed its Form 10-K for the period ended June 30, 2015, and Forms 10-Q for the periods ended September 30, 2015 and December 31, 2015.

 

Unless the Company requests an appeal of this determination to a Hearings Panel, trading of the Company’s common stock will be suspended at the opening of business on March 7, 2016, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market. Following the suspension of trading on Nasdaq, the Company’s securities may be eligible to continue to be quoted on the OTC Bulletin Board or in the “Pink Sheets”.

 

About Sutor Technology Group Ltd

 

Sutor is one of the leading China-based manufacturers and customized service providers for high-end fine finished steel products and welded steel pipes used by a variety of downstream applications. The Company utilizes a variety of in-house developed processes and technologies to convert steel manufactured by third parties into fine finished steel products, including hot-dip galvanized steel, pre-painted galvanized steel, acid-pickled steel, cold-rolled steel and welded steel pipe products. The Company also provides fee-based steel processing services to customers, including industrial peers. To learn more about the Company, please visit http://www.sutorcn.com/en/index.php.

 

Forward-Looking Statements

 

This press release includes certain statements that are not descriptions of historical facts, but are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, those concerning our expected financial performance, liquidity and strategic and operational plans, our future operating results, our expectations regarding the market for our products, our expectations regarding the steel market, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties include, but not limited to, the factors mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended June 30, 2014, and other risks mentioned in our other reports filed with the Securities Exchange Commission (“SEC”). Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.

 

 

 

 

For more information, please contact:

Investor Relations

Sutor Technology Group Limited

Tel: [phone]

Email: [e-mail]