Shiner International Receives Nasdaq Delisting Notice

Shiner International, Inc. (BEST) said Monday that it has received a notification letter from The Nasdaq Stock Market LLC on August 28 informing the company of its decision to delist the company from the Nasdaq Stock Market.

The letter stated that unless the company requests an appeal of the determination to delist the company, trading of the company's common stock will be suspended at the opening of business on September 6 and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the company's securities from listing and registration on the Nasdaq Stock Market.

The August 28 letter was the third letter that the company received from Nasdaq with regard to its failure to meet Nasdaq's continued listing requirement to maintain the close bid price of its common stock at $1.00 per share.

The August 28 letter stated that the company may appeal Nasdaq's determination to the panel. A hearing request by the company will stay the suspension of the company's securities and the filing of the Form 25-NSE pending the panel's decision. The request for a hearing must be submitted no later than 4:00 p.m. Eastern Time on September 4.

Shiner International said it is in the process of determining whether it will appeal Nasdaq's decision to delist the company.

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