Navigation Links
Yongye International, Inc. Announces Common Stock Will Resume Trading on the NASDAQ Stock Market on June 17, 2013
Date:6/17/2013

BEIJING, June 17, 2013 /PRNewswire-FirstCall/ -- Yongye International, Inc. (NASDAQ:   YONG) ("Yongye" or the "Company"), a leading developer, manufacturer, and distributor of crop nutrient products in the People's Republic of China ("PRC"), announced today that its common stock will resume trading on the NASDAQ Stock Market on Monday, June 17, 2013 at 7:15 a.m. Eastern Time.

As previously disclosed, NASDAQ halted trading in Yongye's common stock on Monday, March 18, 2013 following Yongye's notification that the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2012 (the "Form 10-K") would be delayed given delays in compiling certain information related to accounts receivable and related allowance for doubtful accounts for the year ended December 31, 2012. 

NASDAQ subsequently delivered several requests for information to Yongye relating to various aspects of its business and operations.   

Since March 18, 2013, Yongye has been in regular contact with NASDAQ and has worked diligently to fully address all requests received.  On Friday, June 14, 2013, Yongye was notified by NASDAQ that, following a detailed review and examination of the information provided by Yongye, NASDAQ has concluded its process and that trading of Yongye's common stock will resume on Monday, June 17, 2013 at 7:15 am Eastern Time.

Mr. Zishen Wu, Chairman and Chief Executive Officer of Yongye International, stated, "We are pleased to be able to put this issue behind us.  We sincerely thank our shareholders for their patience during the recent months while we worked hard to provide what was needed to satisfy NASDAQ requirements and enable trading to resume.  The management team looks forward to refocusing our full attention on executing our strategy to further grow the business and on working to maximize value for our shareholders."

It is also important to note, and as previously disclosed, that on April 1, 2013 the Company filed its Form 10-K with the Securities and Exchange Commission ("SEC") within the automatic 15 day extension period afforded by SEC rules and that it has always been in full compliance with its financial reporting requirements.

Update on Proposed Go Private Offer

The Company also announced that (i) Mr. Zishen Wu, the Company's Chairman and Chief Executive Officer, (ii) Full Alliance International Limited, (iii) MSPEA Agriculture Holding Limited, and (iv) Abax Global Capital (Hong Kong) Limited, on behalf of funds managed and/or advised by it and its nominee entities and its and their affiliates, have confirmed with the special committee ("Special Committee") of the board of directors of the Company that they remain interested in pursuing the proposed going private transaction described in the proposal letter delivered to the board of directors on October 15, 2012.

As a reminder, no decisions have been made by the Special Committee with respect to the Company's response to the proposed going private transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed, or that this or any other transaction will be approved or consummated.

About Yongye International

Yongye International, Inc. is a leading crop nutrient company headquartered in Beijing, with its production facilities located in Hohhot, Inner Mongolia, China. Yongye's principal product is a liquid crop nutrient, from which the Company derived substantially all of the sales in 2012. The Company also produces powder animal nutrient product which is mainly used for dairy cows. Both products are sold under the trade name "Shengmingsu," which means "life essential" in Chinese. The Company's patented formula utilizes fulvic acid as the primary compound base and is combined with various micro and macro nutrients that are essential for the health of the crops. The Company sells its products primarily to provincial level distributors, who sell to the end-users either directly or indirectly through county-level and village-level distributors. For more information, please visit the Company's website at www.yongyeintl.com.

Safe Harbor Statement

This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

CONTACTS:

Yongye International, Inc.
Ms. Kelly Wang
Finance Director – Capital Markets
Phone: +86-10-8231-9608
E-mail: ir@yongyeintl.com

FTI Consulting
Mr. Brendan Ward (U.S.)
Phone: +1-212-850-5637
E-mail: brendan.ward@fticonsulting.com

Ms. May Shen (China)
Phone: +86-10-8591-1951
E-mail: may.shen@fticonsulting.com

 


'/>"/>
SOURCE Yongye International, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Yongye International Provides Update on Status of Proposed Go Private Offer
2. Yongye International Announces First Quarter 2013 Financial Results
3. Yongye International to Report First Quarter 2013 Financial Results on May 10, 2013
4. Yongye International Announces Second Quarter 2012 Financial Results
5. Yongye International to Report Second Quarter 2012 Financial Results on August 9, 2012
6. Drogueria Americana, a Honduran Affiliate of GeneCell International, Presents to a Panel of More Than 100 Leading Dentist on Dental Pulp Stem Cells
7. VWR International, LLC Acquires Sovereign Group
8. Cellular Biomedicine Group Announces Expansion in the Osteoarthritis and Rheumatoid Arthritis Market
9. Andain Inc. Announces 2,000 Units Initial Production of the Breakthrough Miniature Disposable Insulin Pump for Use in Clinical Trials for Type-I and Type-II Diabetes
10. Verenium Announces Appointment Of Brian Carter As Vice President Of Grain Processing
11. Neogen announces Bohannon retirement, successor named
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... ... October 11, 2017 , ... ... granted orphan drug designation to SBT-100, its novel anti-STAT3 (Signal Transducer and Activator ... osteosarcoma. SBT-100 is able to cross the cell membrane and bind intracellular STAT3 ...
(Date:10/10/2017)... ... October 10, 2017 , ... For ... has won a US2020 STEM Mentoring Award. Representatives of the FirstHand program travelled ... Volunteer Experience from US2020. , US2020’s mission is to change the trajectory of ...
(Date:10/10/2017)... 10, 2017 SomaGenics announced the receipt of ... develop RealSeq®-SC (Single Cell), expected to be the first ... (including microRNAs) from single cells using NGS methods. The ... to accelerate development of approaches to analyze the heterogeneity ... "New techniques for measuring levels of mRNAs in individual ...
(Date:10/9/2017)...  BioTech Holdings announced today identification and patenting ... stem cell therapy prevents limb loss in animal ... that treatment with ProCell resulted in more than ... to standard bone marrow stem cell administration.  Interestingly, ... of therapeutic effect.  ...
Breaking Biology Technology:
(Date:4/11/2017)... , Apr. 11, 2017 Research and Markets ... 2017-2021" report to their offering. ... The global eye tracking market to grow at a CAGR ... Global Eye Tracking Market 2017-2021, has been prepared based on an ... the market landscape and its growth prospects over the coming years. ...
(Date:4/6/2017)... LONDON , April 6, 2017 ... Control, RFID, ANPR, Document Readers, by End-Use (Transportation & ... Energy Facility, Oil, Gas & Fossil Generation Facility, Nuclear ... Healthcare, Educational, Other) Are you looking for ... Authentication sector? ...
(Date:4/5/2017)... April 4, 2017 KEY FINDINGS ... expand at a CAGR of 25.76% during the forecast ... the primary factor for the growth of the stem ... https://www.reportbuyer.com/product/4807905/ MARKET INSIGHTS The global stem cell ... application, and geography. The stem cell market of the ...
Breaking Biology News(10 mins):