LINYI, China, July 13, 2017 /PRNewswire/ -- On July 7, 2017, American Lorain Corporation (NYSE MKT: ALN) (the
"Company") received a letter from NYSE MKT LLC (the "Exchange")
indicating it has accepted the Company's business plan of
compliance, which was submitted on May 26,
2017, and granted ALN an extension until October 18, 2017 to regain compliance with the
Exchange's continued listing standards.
As previously reported on April
24, 2017, ALN received notification from the staff of
the Exchange indicating it had determined that the Company was
not in compliance with Sections 134 and 1101 of the NYSE MKT
Company Guide (the "Company Guide"), due to the Company's failure
to timely file with the Securities and Exchange Commission ("SEC")
its Annual Report on Form 10-K for the year ended December 31, 2016. The Company expects to
complete filing of its annual report for fiscal year ended
December 31, 2016 and quarterly
report for fiscal period ended March 30,
2017 as soon as possible.
As part of the acceptance, the Company will be subject to
periodic review by the exchange staff during the extension period
covered by the plan. Failure to make progress consistent with the
plan or to regain compliance with the continued listing standards
by the end of the applicable extension period could result in the
company's shares being delisted from the exchange. If the Company's
common stock was ultimately delisted from the exchange, it would be
expected to trade on the OTC Bulletin Board.
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SOURCE American Lorain
Corporation