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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Puda Coal Inc (CE) | USOTC:PUDA | 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% | 0.0001 | 0.00 | 01:00:00 |
TAIYUAN, Shanxi Province, China, July 25, 2011 /PRNewswire-Asia-FirstCall/ -- Puda Coal, Inc. (NYSE Amex: PUDA) (the Company), today announced that on July 15, 2011, the Company submitted to the NYSE Amex (the Exchange) a plan to regain compliance with certain of the Exchanges continued listing standards. The Exchange originally required the Company to submit a plan of compliance by July 5, 2011 and subsequently extended the submission deadline to July 15. The Company can provide no assurances that the plan will be approved by the Exchange.
On July 13, 2011, the Independent Committee of the Board received a draft merger agreement from Chairman of the Board, Mr. Ming Zhao, pertaining to the preliminary buy-out proposal made by Mr. Zhao on April 29, 2011. Although it is expected that evaluation and negotiation of the draft agreement will take at least several weeks, neither the Company nor the Independent Committee can provide any assurances that a definitive agreement will be executed or approved or that a transaction will be consummated or the timing of such. The Company will provide no other updates regarding the proposed buy-out until there is a material development.
FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Investor Relations Contact: | |
Crocker Coulson, President | |
CCG Investor Relations | |
Tel: +1-646-213-1915 | |
Email: crocker.coulson@ccgir.com | |
Elaine Ketchmere, Partner | |
Tel: +1-310-954-1345 | |
Email: elaine.ketchmere@ccgir.com | |
Web: www.ccgirasia.com | |
SOURCE Puda Coal, Inc.
Copyright 2011 PR Newswire
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