NEWARK, N. J., May 31, 2012 /PRNewswire-Asia-FirstCall/ --
American Oriental Bioengineering, Inc. (NYSE: AOB) (the "Company"),
today announced that it received written notification on
May 25, 2012, from the NYSE
Regulation, Inc. staff, on behalf of the New York Stock Exchange
LLC ("NYSE"), that the staff had determined to immediately suspend
trading in the common stock of the Company and file a delisting
application with the United States Securities and Exchange
Commission (the "SEC") pursuant to Section 804.00 of the Listed
Company Manual. The staff stated in its notice that it had
determined that the Company no longer meets the standard for
continued listing on the NYSE and that it is necessary and
appropriate for the protection of investors to immediately suspend
trading in its common stock and initiate delisting
proceedings. Trading in the Company's common stock on the NYSE
had been halted since March 16,
2012.
As a result of the above actions, on Tuesday, May 29, 2012, the Company's common stock
commenced quotation on the OTC Markets under the ticker symbol
"AOBI."
About American Oriental Bioengineering, Inc.
American Oriental Bioengineering, Inc. is a pharmaceutical
company dedicated to improving health through the development,
manufacture and commercialization of a broad range of prescription
and over the counter products.
Safe Harbor Statement
Statements made in this press release are forward-looking and
are made pursuant to the safe harbor provisions of the Securities
Litigation Reform Act of 1995. Such statements involve risks
and uncertainties that may cause actual results to differ
materially from those set forth in these statements. The
economic, competitive, governmental, technological and other
factors identified in the Company's filings with the Securities and
Exchange Commission, may cause actual results or events to differ
materially from those described in the forward looking statements
in this press release. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
because of new information, future events, or otherwise.
Contact:
Kewa Luo
646-367-1765
SOURCE American Oriental Bioengineering, Inc.