Kingold Jewelry Reports Voluntary Delisting Of Common Stock From Nasdaq, Effective Aug. 21, 2020
Kingold Jewelry Reports Voluntary Delisting Of Common Stock From Nasdaq, Effective Aug. 21, 2020
Kingold Jewelry, Inc. ("Kingold" or the "Company") (NASDAQ:KGJI), a manufacturer and designer of gold jewelry, ornaments and investment-oriented products, today announced that it has notified The NASDAQ Stock Market ("NASDAQ") of its intention to voluntarily delist its common stock from the NASDAQ Capital Market.
Kingold珠寶公司。Kingold(“Kingold”或“公司”)(納斯達克股票代碼：KGJI)是一家生產和設計黃金首飾、飾品和投資型產品的公司，該公司今天宣佈，它已通知納斯達克證券市場(“納斯達克”)，它打算自願將其普通股從納斯達克資本市場(NASDAQ Capital Market)退市。
On August 11, 2020, the Company notified The NASDAQ Stock Market of the Company's intent to voluntarily delist its common stock from the NASDAQ Capital Market. On August 21, 2020, following a ten-day period that commences after the Company provided notice of its intent to delist to NASDAQ, the Company intends to file with NASDAQ and the U.S. Securities and Exchange Commission (the "SEC"), a Form 25 relating to the delisting of its common stock from the NASDAQ Capital Market. It is anticipated that trading of the Company's common stock on the Nasdaq Capital Market will be suspended upon the filing of the Form 25 on August 21, 2020. The delisting will become effective on August 31, 2020, ten days after the filing date of the Form 25. The Company expects its common stock to be quoted and traded on the OTC Markets from the filing of the Form 25 on August 21, 2020, although it cannot assure that this will be the case.
2020年8月11日，該公司通知納斯達克證券市場，公司有意自願將其普通股從納斯達克資本市場退市。2020年8月21日，在公司向納斯達克發出退市意向通知後的10天內，公司打算向納斯達克和美國證券交易委員會(“證券交易委員會”)提交一份關於其普通股從納斯達克資本市場退市的25號表格。預計公司普通股在納斯達克資本市場的交易將在2020年8月21日提交25號表格時暫停。退市將於2020年8月31日生效，也就是25號表格備案日期後10天。該公司預計其普通股將從2020年8月21日提交的25號表格開始在場外交易市場報價和交易，儘管它不能保證情況會是這樣。
The decision to delist from NASDAQ resulted from the Board of Directors' review of numerous factors, particularly the cost and feasibility of ongoing compliance with the NASDAQ listing requirements and the Company's current financial condition. In considering whether to delist from NASDAQ, the Company considered in particular that it had received written notices dated June 30, 2020 and July 2, 2020 from the Listing Qualifications department of The NASDAQ Stock Market (the "Notices") indicating that the Company is not in compliance with the requirements of NASDAQ Listing Rule 5250(c)(1) to file its annual report on Form 10-K for the year ended December 31, 2019 and its quarterly report on Form 10-Q for the period ended March 31, 2020. Pursuant to the Notices, the Company was required to submit a plan to regain compliance with Rule 5250(c)(1) for the delinquent Form 10-K and Form 10-Q.
從納斯達克退市的決定源於董事會對眾多因素的審查，特別是持續遵守納斯達克上市要求的成本和可行性，以及公司目前的財務狀況。在考慮是否從納斯達克退市時，本公司特別考慮到其已收到納斯達克證券市場上市資格部門於2020年6月30日及2020年7月2日發出的書面通知(“該等通知”)，表明本公司不符合納斯達克上市規則第5250(C)(1)條的規定，須提交截至2019年12月31日止年度的10-K表格年報及截至2020年3月31日止的10-Q表格季度報告。根據通知，公司被要求提交一份計劃，以重新遵守規則第5250(C)(1)條，以處理拖欠的表格10-K和表格10-Q。
On July 16, 2020, the Company submitted such plan to the Listing Qualifications department and was advised by telephone on August 6, 2020 that the plan was not accepted. As such, the Company understands that it is likely NASDAQ will commence procedures to delist the Company's common stock from the NASDAQ Capital Market. Upon being advised of the rejection of the plan, the Board of the Company weighed the likelihood of prevailing on an appeal of delisting against the cost of such an appeal and determined to file a voluntary delisting notice.
2020年7月16日，本公司向上市資質部門提交了該方案，並於2020年8月6日電話通知該方案未被接受。因此，據公司瞭解，納斯達克很可能會啟動程序，將公司的普通股從納斯達克資本市場退市。在獲悉該計劃被否決後，本公司董事會權衡了退市上訴勝訴的可能性與該等上訴的費用，並決定提交自願退市通知。