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China Ceramics Receives Nasdaq Notification of Non-Compliance with Minimum Bid Price Rule

2015-09-22 20:00 2292

JINJIANG, Fujian Province, China, September 22, 2015 /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 that on September 21, 2015, it received a written notice (the "Notice) from the Listing Qualifications department of The Nasdaq Stock Market ("Nasdaq") indicating that the Company is not in compliance with the minimum bid price requirement of $1.00 set forth in Nasdaq Listing Rule 5450(a)(1) for continued listing on the Nasdaq Global Market.

The Nasdaq Listing Rules require listed securities to maintain a minimum bid price of $1.00 per share and, based upon the closing bid price for the 30 consecutive days ended September 17, 2015, the Company did not meet this requirement. China Ceramics has been provided a 180 day period in which to regain compliance. During this period, the closing bid price of the Company's ordinary shares must be at least $1.00 for a minimum of ten consecutive business days to regain compliance. In addition, following the initial 180 day period, China Ceramics may be eligible for an additional 180 day period to regain compliance after review by the Nasdaq Staff.

The notification letter has no effect on the listing of the Company's ordinary shares at this time and the shares will continue to trade on the Nasdaq Global Market under the ticker "CCCL".

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.

Contact Information:












China Ceramics Co., Ltd.



Precept Investor Relations LLC

Edmund Hen, Chief Financial Officer


David Rudnick, Account Manager

Email: info@cceramics.com



Email: david.rudnick@preceptir.com






Phone: +1 917-864-8849

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-ceramics-receives-nasdaq-notification-of-non-compliance-with-minimum-bid-price-rule-300146834.html

Source: China Ceramics Co., Ltd.
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