Bat Group, Inc. Regains Compliance with Nasdaq Listing Requirements
September 18 2019 - 3:00PM
Bat Group, Inc. (Nasdaq: GLG) (the "Company"), an emerging used
luxurious car rental service provider headquartered in Beijing,
China, today announced that the Company, on September 16, 2019,
received a written notification from the Nasdaq Stock Market
Listing Qualifications Staff (the “Staff”) indicating that the
Company has regained compliance with the shareholder approval
requirements set forth in Listing Rule 5635(d) (“Shareholder
Approval Rule”) and the Listing of Additional Shares (“LAS”)
notification requirements under Listing Rule 5250(e)(2)(D) for
continued listing on the Nasdaq Capital Market based on the Staff’s
review of the Company’s submitted materials.
As disclosed in the Company’s Current Report on
Form 8-K filed on June 17, 2019, the Company had been notified by
Nasdaq on June 12, 2019 that it did not comply with Nasdaq’s
shareholder approval requirements set forth in Listing Rule 5635(d)
and the Listing of Additional Shares notification requirements
under Listing Rule 5250(e)(2)(D) and the Company was required to
submit a plan of compliance by July 29, 2019.
About Bat Group, Inc.
Bat Group, Inc. (Nasdaq: GLG) is an emerging
used luxurious car rental service provider in China. The used
luxurious car business is conducted under the brand name “BatCar”
by the Company’s VIE entity, Tianxing Kunlun Technology Co. Ltd,
from its headquarters in Beijing. Utilizing a streamlined, digital,
transaction process, the Company endeavors to provide the best
possible rental experience for its customers. For more information
please visit ir.imbatcar.com
Safe Harbor Statement
This press release may contain certain
"forward-looking statements" relating to the business of China
Commercial Credit, Inc. and its subsidiary companies. All
statements, other than statements of historical fact included
herein are "forward-looking statements." These forward-looking
statements are often identified by the use of forward-looking
terminology such as "believes," "expects" or similar expressions,
involve known and unknown risks and uncertainties. Although the
Company believes that the expectations reflected in these
forward-looking statements are reasonable, they do involve
assumptions, risks and uncertainties, and these expectations may
prove to be incorrect. Investors should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. The Company's actual results could differ
materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in the Company's periodic reports that are filed with the
Securities and Exchange Commission and available on its website at
http://www.sec.gov. All forward-looking statements attributable to
the Company or persons acting on its behalf are expressly qualified
in their entirety by these factors. Other than as required under
the securities laws, the Company does not assume a duty to update
these forward-looking statements.
For more information, please
contact:
Ms. Tina XiaoAscent Investor Relations LLCEmail:
tina.xiao@ascent-ir.com
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