Current Report Filing (8-k)
July 23 2014 - 5:20PM
Edgar (US Regulatory)
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): July 23, 2014
GUANWEI RECYCLING CORP.
(Exact name of registrant as specified
in its charter)
Nevada |
|
000-53825 |
|
98-0669936 |
(State or Other Jurisdiction of
Incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
Rong Qiao Economic Zone
Fuqing City
Fujian Province
People’s Republic of China
300500
(Address of principal executive offices)
Registrant’s telephone number,
including area code: (86-591) 8536-6197
(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):
o
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On July 23, 2014, Guanwei Recycling
Corp. (the “Company”) announced that it received a letter of notification from the Depository Trust Company (“DTC”)
on July 18, 2014, stating that DTC intends to suspend all book entry- services provided to DTC participants with respect to GPRC
shares. The Company is reviewing its options and, if there are any new developments with respect to this matter, it will inform
shareholders.
A copy of the press release that discusses
this matter is filed as Exhibit 99.1 to, and incorporated by reference in, this report. The information in this Current Report
is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934
or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference
into any registration statement or other document pursuant to the Securities Act of 1933, except as shall be expressly set forth
by specific reference in any such filing.
Item 9.01. Financial Statements
and Exhibits.
Exhibit
Number |
|
Exhibit Description |
99.1 |
|
Press Release dated July 23, 2014 |
SIGNATURE PAGE
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: July 23, 2014
|
GUANWEI RECYCLING CORP. |
|
|
|
|
|
|
By: |
/s/ Min Chen |
|
|
Name: |
Min Chen |
|
|
Title: |
Chief Executive Officer |
Exhibit
99.1
Guanwei
Recycling Reports Receipt of Notice From Depository Trust Company (DTC) of Plans to Impose “Global Lock”
On
Its Securities; Company Says DTC Plans Are Unfair And Unnecessarily Damaging To Current Shareholders And Is Reviewing Options
FUQING
CITY, CHINA--(July 23, 2014) - Guanwei Recycling Corp. (the “Company” of “Guanwei”)(NASDAQ: GPRC),
China's leading clean tech manufacturer of recycled low density polyethylene (LDPE), reported today it received a letter of
notification from the Depository Trust Company (“DTC”) on July 18, 2014, that DTC intends to suspend all book entry
services provided to DTC participants with respect to GPRC shares (the “Global Lock”). The letter indicated the Company
has until August 14, 2014 to provide a written response stating its objections to the DTC action, after which the latter will
make either a determination or a request for further information within 20 days.
The
DTC decision is the result of a recent SEC enforcement action against
S. Paul Kelley and four other individuals, in which the SEC alleges that Kelly et al issued unregistered shares of the Company
in violation of Section 5 of the Securities Act. (See Securities and Exchange Commission v. S. Paul Kelley. et al., Civil
Action No. 2:14-cv-2827 (D. N.J., filed May 5, 2013). It is DTC’s position that such shares were not eligible for deposit
at DTC for book entry services. Because all the Company’s shares held by DTC are freely interchangeable, DTC has determined
to implement the Global Lock. The Company said there were no allegations made about any improprieties by GPRC, and believes DTC’s
actions are unfair and unnecessarily damaging to current shareholders and the Company.
The Company
said it is reviewing its options and, if there are any new developments with respect to this matter, it will inform shareholders.
Description
of Guanwei Recycling Corp.
Adhering
to the highest "green" standards, Guanwei Recycling Corp. (the "Company") has generated rapid growth producing
recycled low density polyethylene (LDPE) from plastic waste procured mostly in Europe. The Company sells the recycled LDPE to
more than 300 customers (including over 150 active recurring customers) in more than ten different industries in China. The Company
is licensed by Chinese authorities and also has been issued a Compliance Certificate by TÜV
Rheinland, which issues certificates of approval for certain plastics manufacturers that
meet Germany's strict environmental standards. This enables the Company to procure high quality plastic waste directly from Germany
and other European countries with no middlemen, and permits highly economic production of the highest grades of LDPE. Additional
information regarding Guanwei Recycling Corp. is available at www.guanweirecycling.com.
Information
Regarding Forward-Looking Statements
Except
for historical information contained herein, the statements in this press release are forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve
known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted
results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in
our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission.
Contacts:
Richard Sun
guanweirecycling@gmail.com
Ken Donenfeld
DGI Investor Relations
kdonenfeld@dgiir.com
Tel: 212-425-5700
Fax: 646-381-9727
Guanwei Recycling (CE) (USOTC:GPRC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Guanwei Recycling (CE) (USOTC:GPRC)
Historical Stock Chart
From Sep 2023 to Sep 2024