JINJIANG, Fujian Province, China, August 1, 2014 /PRNewswire/ — China Ceramics Co., Ltd. (NASDAQ Global Market: CCCL) (“China Ceramics” or the “Company”), a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, today announced the filing of its Annual Report on Form 20-F for the fiscal year ended 2013 (the “2013 Annual Report”) with the U.S. Securities and Exchange Commission (the “SEC”). The 2013 Annual Report includes consolidated audited financial statements of the Company for the fiscal year ended December 31, 2013 as well as the re-audited financial statements of the Company for the prior fiscal years ended December 31, 2011 and 2012. The Company expects to release and file its unaudited financial statements for the fiscal quarters ended March 31, 2014 and June 30, 2014 (the “2014 Quarterly Financial Statements”) with the SEC on or about August 15, 2014, but it can provide no assurance that it will be able to achieve that objective within this timeframe.
As previously announced, following notification of non-compliance with the Nasdaq continued listing requirements requiring the timely filing of periodic reports and the Company’s subsequent submission of a plan of compliance with the foregoing listing deficiency, the Nasdaq Listing Qualifications staff (the “Nasdaq Staff”) approved the terms and timing of the Company’s plan of compliance. Specifically, on June 11, 2014, the Company received a notification from the Nasdaq Staff stating that Nasdaq determined to grant a listing exception to enable the Company to regain compliance with the Nasdaq listing requirements. Under the terms of the listing exception, the Company was required to file its Annual Report on Form 20-F for the period ended December 31, 2013 on or before August 15, 2014.
Notwithstanding the foregoing, while the release of the 2014 Quarterly Financial Statements was not a condition to the exception that the Nasdaq Staff granted to the Company, Nasdaq may refrain from making a determination regarding the Company’s plan of compliance until those results have been released and Nasdaq has had an opportunity to review them. There can be no assurance that Nasdaq will recommence trading in the Company’s securities. If there is an extended trading halt or if the Company’s securities are delisted, there is a possibility that its securities may be quoted in the OTCBB or the pink sheets.
About China Ceramics Co., Ltd.
China Ceramics Co., Ltd. is a leading manufacturer of ceramic tiles in China. The Company’s ceramic tiles are used for exterior siding, interior flooring, and design in residential and commercial buildings. China Ceramics’ products, sold under the “Hengda” or “HD”, “Hengdeli” or “HDL”, the “TOERTO” and “WULIQIAO” brands, and the “Pottery Capital of Tang Dynasty” brands, are available in over 2,000 style, color and size combinations and are distributed through a network of exclusive distributors as well as directly to large property developers. For more information, please visit http://www.cceramics.com.
Safe Harbor Statement
Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2013 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.