Planet Green Holdings Clarifies Status of Compliance With NYSE American Continued Listing Standards
SHANGHAI, Nov. 2, 2018 /PRNewswire/--Planet Green Holdings Corp. (NYSE American: PLAG) (the "Company" or "Planet Green") announced today that, as previously announced, the Company has regained compliance with the NYSE American LLC (the "Exchange") continued listing standards with respect to the Company's stock price. However, the Company has not yet regained compliance with Section 1003(a)(i) and 1003(a)(ii) with respect to the Company's stockholders' equity. NYSE American Rules require an issuer to demonstrate compliance for a period of two consecutive quarters prior to being deemed in compliance with such standard.
As previously announced, Planet Green has taken numerous steps toward regaining compliance with the such stockholders' equity standard, including closing a private placement transaction for $10 million, the sale of equity interests in certain subsidiaries by the Company to Mr. Chen, the Company's former Chairman and CEO, and completion of the acquisition of Muren Agriculture Co. Ltd. The impact of these transactions is expected to be reflected in the Company's annual report for the year ending December 31, 2018.
For more information, please contact:
Mr. Mingze Yin
Director of Investor Relations