TAIYUAN, China, Aug. 28, 2013 /PRNewswire/ -- Asia Carbon
Industries, Inc. (OTCBB: ACRB) (the "Company") today announced that
the Company's Board of Directors has authorized the filing, on or
around September 6, 2013, of a
Certification and Notice of Termination of Registration Under
Section 12(g) of the Securities Exchange Act of 1934 or Suspension
of Duty to File Reports under Sections 13 and 15(d) of the Exchange
Act on Form 15 ("Form 15") with the United States Securities and
Exchange Commission (the "SEC") to voluntarily suspend its
reporting obligations under the Securities Exchange Act of 1934, as
amended (the "Exchange Act").
The Company's SEC reporting obligations, including the
obligations to file annual reports on Form 10-K, quarterly reports
on Form 10-Q and current reports on Form 8-K, will be immediately
suspended upon the filing of the Form 15, unless the SEC denies the
effectiveness of Form 15, in which case the Company is required to
file all the reports within 60 days of such denial.
One of the reasons that the Company is eligible to suspend its
reporting obligations is because it has fewer than 300 record
holders of its common stock as of the date hereof and it
anticipates maintaining such eligibility until the filing of
the Form 15.
The Company expects that as a result of the filing of the Form
15 its common stock will be removed from trading on the OTCQB
Marketplace. Shares may begin trading on the OTCPink Marketplace,
but there can be no assurance that there will be a market for the
Company's securities, and the liquidity of such trading market may
be very limited.
Forward-Looking Statements
This press release includes forward-looking statements.
Generally, the words "believes," "anticipates," "may," "will,"
"should," "expect," "intend," "estimate," "continue," and similar
expressions or the negative thereof or comparable terminology are
intended to identify forward-looking statements. Such statements
are subject to certain risks and uncertainties, including the
matters set forth in this report or other reports or documents we
file with the SEC from time to time, which could cause actual
results or outcomes to differ materially from those projected.
Undue reliance should not be placed on these forward-looking
statements, which speak only as of the date hereof. We undertake no
obligation to update these forward-looking statements.
Company Contact:
Company contact:
wjj98051@163.com
Asia Carbon Industries, Inc.
Phone 86-351-5966868
SOURCE Asia Carbon Industries, Inc.