WUXI, China, Nov. 19, 2013 /PRNewswire/ -- Suntech Power Holdings Co., Ltd. (OTC: STPFQ) (the "Company" or "Suntech") today announced that it intends to appeal the decision of NYSE Regulation, Inc. ("NYSE Regulation") to commence delisting proceedings of the Company's American Depositary Shares (ADRs). The Company received a letter from NYSE Regulation on November 6, 2013 stating that Suntech's ADRs would be suspended from trading due to uncertainties about the Company's ability to complete its Form 20-F for the fiscal year ended December 31, 2012 within the time frames required by the NYSE in light of uncertainty around the Company's and its significant subsidiary's ongoing restructuring and the fact that the Company is also in the process of restating its previously issued December 31, 2010 and 2011 financial statements.
Trading of the Company's American Depositary Shares had been suspended by NYSE Regulation prior to the opening on Monday, November 11, 2013. Since such suspension, quotations of the Company's American Depositary Shares have been available on the OTC market under the symbol "STPFQ".
The Company believes a Committee of the Board of Directors of the NYSE will make a final determination as to the Company's American Depositary Shares by early 2014.
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