ChinaCache Announces Receipt of Minimum Bid Price Notice from NASDAQ
August 28 2017 - 04:05PM
ChinaCache International Holdings Ltd. (“ChinaCache” or the
“Company”) (Nasdaq:CCIH), a leading total solutions provider of
Internet content and application delivery services in China, today
announced that it received a notification letter from the Listing
Qualifications Department of The Nasdaq Stock Market Inc.
(“Nasdaq”) on August 25, 2017, notifying the Company that the
minimum bid price per American depositary share (“ADS”), each
representing 16 ordinary shares of the Company, was below $1.00 for
a period of 30 consecutive business days and that the Company did
not meet the minimum bid price requirement set forth in Rule
5450(a)(1) of the Nasdaq Listing Rules. The Nasdaq notification
letter does not result in the immediate delisting of the Company’s
securities.
Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the
Company has a compliance period of 180 calendar days, or until
February 21, 2018 (the “Compliance Period”), to regain compliance
with Nasdaq’s minimum bid price requirement. If at any time during
the Compliance Period, the closing bid price per ADS is at least
$1.00 for a minimum of 10 consecutive business days, Nasdaq will
provide the Company a written confirmation of compliance and the
matter will be closed.
In the event that the Company does not regain compliance before
the expiration of the Compliance Period, the Company may transfer
to the Nasdaq Capital Market where, subject to the determination by
the staff of Nasdaq, and it may be eligible for an additional 180
calendar day compliance period if it meets the initial listing
requirements, with the exception of bid price, of the Nasdaq
Capital Market, and provides written notice to Nasdaq of its
intention to cure the deficiency.
About ChinaCache International Holdings
Ltd.
ChinaCache International Holdings Ltd. (Nasdaq:CCIH) is a
leading total solutions provider of Internet content and
application delivery services in China. As a carrier-neutral
service provider, ChinaCache's network in China is interconnected
with networks operated by all telecom carriers, major non-carriers
and local Internet service providers. With more than a decade of
experience in developing solutions tailored to China's complex
Internet infrastructure, ChinaCache is a partner of choice for
businesses, government agencies and other enterprises to enhance
the reliability and scalability of online services and applications
and improve end-user experience. For more information on
ChinaCache, please visit ir.chinacache.com.
For investor and media inquiries please contact:
Investor Relations Department
ChinaCache International Holdings
Tel: +86 10 6408 5307
Email: ir@chinacache.com
Mr. Ross Warner
The Piacente Group | Investor Relations
Tel: +86 10 5730-6200
Email: chinacache@tpg-ir.com
Ms. Brandi Piacente
The Piacente Group | Investor Relations
Tel: +1 212-481-2050
Email: chinacache@tpg-ir.com
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