Grand Toys International Ltd. (GRIN) announced that it has received a Staff Determination letter on July 8 from The Nasdaq Stock Market.
The letter indicated that as Nasdaq has not received Grand Toys' annual report on Form 20-F for the fiscal year 2007, the Company fails to comply with the filing requirement for continued listing in Nasdaq Marketplace Rule. The letter also indicated that the company's American Depositary Shares (ADSs) are subject to delisting from Nasdaq.
Hence, the company's ADSs would be delisted on July 17.
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