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China Botanic Pharmaceutical Inc. Announces Withdrawal Of Request For Hearing
Date:6/7/2013

HARBIN, China, June 7, 2013 /PRNewswire/ -- China Botanic Pharmaceutical Inc. (AMEX: CBP) (formerly Renhuang Pharmaceuticals, Inc.) ("China Botanic" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM") in China, announced today that on June 5, 2013, the Company submitted a notice to the NYSE MKT LLC (the "Exchange") of its decision to withdraw its appeal of the Staff's determination to delist the Company's securities from the NYSE MKT. As a result, the Company has been informed that the Company's common stock will be suspended from trading and the Exchange will proceed to file a Form 25 with the Securities and Exchange Commission to delist the Company's common stock from the Exchange.

As previously announced on May 2, 2012, the Company received a notice ("Delisting Notice") from the NYSE MKT LLC ("Exchange") indicating that based on the Company's noncompliance with its compliance plan previously submitted by the Company on February 7, 2013 to regain compliance with Sections 134 and 1101 of the NYSE MKT Company Guide ("Company Guide") by May 1, 2013 (the "Compliance Plan"), the Exchange has made a determination to delist the common stock of the Company from the Exchange. The Delisting Notice indicated that under Sections 1203 and 1009(d) of the Company Guide, the Company has a limited right to appeal the Exchange's determination by requesting an oral hearing or a hearing based on a written submission before the Exchange's Listing Qualifications Panel ("Panel"). On May 9, 2013, the Company submitted a request for a  hearing and paid the applicable hearing fee, and an oral hearing date was set for June 28, 2013. However, based on the progress of its audit, the Company has decided to not appeal by withdrawing its requ
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SOURCE China Botanic Pharmaceutical Inc.
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