Benzinga | Oct 28, 2021 04:40PM EDT

China XD Plastics 8-K Shows Co. Received Letter From Nasdaq Listing Qualifications Dept. Stating Nasdaq Panel Determined To Delist Shares, Will Suspend Trading On Oct. 29, 2021

On October 27, 2021, China XD Plastics Company Limited (the "Company") received a letter from the Listing Qualifications Hearings Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that the Nasdaq Hearings Panel has determined to delist the shares of the Company from Nasdaq, will suspend trading of the Company's shares effective at the open of business on Friday, October 29, 2021, and will complete the delisting by filing a Form 25 Notification of Delisting with the Securities and Exchange Commission, after applicable appeal periods have lapsed.



The Nasdaq Hearings Panel held a hearing on October 14, 2011 to consider the Company's plan to regain compliance and continued listing on the Nasdaq in light of the Company's failing to comply with the requirements of Nasdaq Listing Rule 5250(c)(1) because it had not filed its Form 10-K for the fiscal year ended December 31, 2020 and its Forms 10-Q for the periods ended March 31, 2021 and June 30, 2021. The Company intends to appeal the Nasdaq Hearings Panel determination.