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CCCI China Cable and Communications (CE)

0.000004
0.00 (0.00%)
04 Oct 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
China Cable and Communications (CE) USOTC:CCCI OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.000004 0.00 01:00:00

China Cable and Communication, Inc. Issues Demand Letter to Berlin Stock Exchange for Immediate Delisting

03/06/2004 3:15pm

PR Newswire (US)


China Cable and Communic... (CE) (USOTC:CCCI)
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China Cable and Communication, Inc. Issues Demand Letter to Berlin Stock Exchange for Immediate Delisting Company Says Stock Was Listed on Exchange Without Its Prior Knowledge, Consent and Authorization BEIJING, June 3 /PRNewswire-FirstCall/ -- China Cable and Communication, Inc. (OTC:CCCI) (BULLETIN BOARD: CCCI) , a leading China-based cable TV company, today announced that to protect its shareholders, it has sent a letter to the Berlin-Bremen Stock Exchange demanding immediate delisting. The Company's shares were listed on the Exchange without its prior knowledge, consent or authorization. The Berlin-Bremen Stock Exchange listings, which include numerous U.S. publicly traded companies, appear to expose the stock of listed companies, such as China Cable and Communication, to the possibility of "naked short selling." This practice can force the price of a stock down through the selling of non-existent shares of stock. "As soon as we learned of this listing, we notified our SEC counsel to proceed with whatever steps are necessary to delist our stock from the Berlin- Bremen Exchange," said Gareth Tang, President of China Cable and Communication. "We believe the delisting is in the best interest of our shareholders." About China Cable and Communication China Cable and Communication, Inc. is a China-based cable TV company. Through its British Virgin Island subsidiary, the Company is the first foreign company to own and operate a cable television network in China. Located 85 miles south of Beijing, the network currently offers 39 channels within the Baoding city limits and eight additional channels to outer areas in the Baoding metropolitan area. It transmits in both analog and digital over its fiber optic network and through 22 substations. With its fiber optic network, Baoding network is capable of transmitting 37 analog television programs, six digital signals and one FM music program. In addition to its cable television transmission services, Baoding network offers Internet access and value added services, such as broadband Internet access and on- demand services through our proprietary set-top boxes. China Cable and Communication is well positioned as a foreign investor approved by The State Administration of Radio, Film and Television ("SARFT"), China's national regulatory authority for the broadcasting industry, to own interests in and provide operational management support to cable television networks in the People's Republic of China (PRC). The SARFT approval together with the trading of CCCI's common stock in the US, provide CCCI with a favorable advantage in access to foreign capital. China Cable and Communication, Inc. trades in the United States, under the ticker symbol CCCI, in order to provide U.S. investors with the opportunity to invest in a company that own interests in a PRC cable television network. For more information, please visit http://www.chinacable.us/. For Additional Information Please Contact: Dara Podber Managing Director of Friedland Capital Inc. Tel. 1-201-420-7437 (Friedland Capital Inc. is the US Corporate Finance Advisor to China Cable and Communication, Inc.) The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Some of these include, but are not limited to, our availability of capital, political occurrences and events in China, the terms of our 8% convertible preferred stock, operations of the Baoding joint venture, demand for the products of the Baoding joint venture, the economy of China, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including Amendment No. 1 to the Form SB-2 registration statement filed with the Securities and Exchange Commission on December 8, 2003, the Annual Report on Form 10-KSB for the fiscal year ended December 31, 2003, as well as the Quarterly Reports and Current Reports on Form 8-K by the company. DATASOURCE: China Cable and Communication, Inc. CONTACT: Dara Podber, Managing Director of Friedland Capital Inc., +1-201-420-7437, for China Cable and Communication, Inc. Web site: http://www.chinacable.us/

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