Cavico corp. receives notice from nasdaq
HANOI, Vietnam, Jun thirty, 2011( GlobeNewswire around COMTEX) –Cavico Corp. /quotes/zigman/114107/quotes/nls/cavo CAVO + 6.43% ( “Cavico” or the “Company”), the vital infrastructure polite engineering pattern as well as building the whole firm formed in Vietnam, currently voiced that it perceived the minute from The NASDAQ Batch Market’s staff upon Jun twenty-four, 2011. The minute settled that the staff has dynamic not to accede to the Association one some-more time to record the derelict filings. Accordingly, the Company’s bonds will be delisted from The NASDAQ Batch Marketplace as well as traffic of the Company’s usual batch will be dangling during the opening of commercial operation upon Jul 6, 2011, as well as the Form 25-NSE will be filed with the Bonds as well as Exchange Commission( the “SEC”), that will mislay the Company’s bonds from inventory as well as registration upon NASDAQ.
As formerly reported, the Association perceived the minute from The NASDAQ Batch Marketplace saying that since the Association unsuccessful to record the Form 10-Q for the duration finished Mar 31, 2011, upon or prior to the due date, as well as since the Association stays derelict in filing the Form 10-K for the duration finished Dec 31, 2010, upon or prior to the due date, it is not in correspondence with NASDAQ Marketplace Rule 5250( c )( 1), that requires that the listed association timely record continual monetary reports with the U.S. Bonds as well as Exchange Commission as the condition to one after another inventory of the securities.
The Association had programmed to seductiveness to NASDAQ to sojourn listed upon the NASDAQ Capital Market. However, the Company’s supervision, after consulting with the house of directors, has motionless it is in the most appropriate seductiveness of the Association not to ask an appeal. Upon delisting, the Company’s usual batch will be authorised to traffic in the “Grey Market.” Grey Marketplace bonds do not have bid or ask quotations in the OTC Link complement or the OTCBB. Broker-dealers contingency inform Grey Marketplace trades to FINRA, so traffic interpretation is accessible upon http://www.otcmarkets.com as well as alternative open sources. The Company’s batch is not rught away authorised for traffic upon the over-the-counter( “OTC”) marketplace due to the actuality that traffic in the Company’s batch was halted upon NASDAQ. The Association skeleton to have the batch quoted upon the OTC Link complement or the OTCBB once it is eligible. The Association skeleton upon filing all derelict reports with the SEC as well as apropos authorised for quotation.
Mr. Hung Manh Tran, senior manager clamp boss of Cavico, settled, “We have been diligently operative upon the filings as well as will inform them as shortly as possible. We have been assured the delays in completing the monetary statements as well as monetary review will shortly be resolved.”
About Cavico Corp.
Cavico Corp. is focused upon vast infrastructure projects, that embody the building the whole of hydropower comforts, dams, bridges, tunnels, roads, mines as well as civic buildings. Cavico is additionally creation investments in hydropower comforts, concrete prolongation plants, vegetable scrutiny as well as civic developments in Vietnam. The association employs some-more than 3, 000 employees upon projects worldwide, with offices via Vietnam as well as the heavenly body bureau in Australia. The Association right away has 3 subsidiaries, Cavico Mining( hsx:MCV), Cavico Industry & Vegetable( hnx:CMI), as well as Cavico Building the whole Manpower & Services( hnx:CMS), that have been listed in Vietnam upon the Ho Chi Minh as well as Hanoi Batch Exchanges.
Founded in 2000, Cavico is the vital infrastructure building the whole, infrastructure investment as well as healthy resources firm headquartered in Hanoi, Vietnam. Cavico is rarely reputable for the core competency in the building the whole of mission-critical infrastructure together with hydroelectric plants, highways, bridges, tunnels, ports as well as civic village developments. One of the Company’s first rival advantages is the capability to say the plan “from judgment by completion” with the straight portfolio of related investment, needing, pattern, building the whole supervision as well as trickery upkeep services. Cavico’s plan partners embody tip multi-national corporations as well as supervision organizations. The Association employs some-more than 3, 000 full-time, part-time, as well as anniversary workers. For some-more report, revisit http://www.cavicocorp.com . Report upon the Company’s Web site or any alternative Web site does not consecrate the apportionment of this release.
Safe Bay Statement underneath the Private Bonds Litigation Reform Act of 1995
This press recover contains “forward-looking statements” inside of the definition of the protected bay supplies of the Private Bonds Litigation Reform Act of 1995. All statements alternative than statements of chronological actuality in this proclamation have been forward-looking statements, together with though not singular to, the Company’s capability to acquire the required financing to go on as well as enhance operations, to marketplace the building the whole services in latest markets as well as to suggest building the whole services during rival pricing, the Company’s capability to finish projects in the time support specified; expected income from the projects to capture as well as keep supervision, as well as to confederate as well as say technical report as well as supervision report systems; the goods of banking policies as well as fluctuations, ubiquitous mercantile conditions as well as alternative factors minute from time to time in the Company’s filings with the United States Bonds as well as Exchange Commission as well as alternative regulatory authorities. These statements embody, but reduction, statements per the capability to hope for the Association for growth; the Company’s programmed expansions, as well as predictions as well as superintendence relating to the Company’s destiny monetary performance. The Association undertakes no requisite to publicly refurbish or correct any forward-looking statements, either as the outcome of latest report, destiny events or otherwise.
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SOURCE: Cavico Corp.
CONTACT: Cavico Corp. Timothy Pham Clamp Boss as well as Director + 1-714-843-5456 cavicohq@cavico.us Investor Relations Contact: Dave Gentry RedChip Companies, Inc. 800-733-2447, Ext. 104 407-644-4256, Ext. 104 info@redchip.com
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