BEIJING and NEW YORK, Aug. 9,
2017 /PRNewswire/ -- Wins Finance Holdings Inc. ("Wins
Finance" or the "Company") (NASDAQ: WINS), a diversified investment
and asset management company that provides integrated financing
solutions to small and medium enterprises ("SMEs") in China, today announced that on August 4, 2017, the Company received a delisting
determination letter from the Staff of the Listing Qualifications
Department (the "Listing Qualifications Staff") of The Nasdaq Stock
Market LLC ("Nasdaq") relating to the delisting of the Company's
securities.
The Listing Qualifications Staff has determined to delist the
Company's securities due to a violation of (i) Listing Rule 5101,
due to public interest concerns relating to alleged
misrepresentations made to Nasdaq relating to the 300 round lot
shareholder requirement in rule 5505(a), (ii) Listing Rule 5250,
due to the making of alleged misrepresentations by the Company
relating to the 300 round lot shareholder requirement in rule
5505(a), (iii) Listing Rule 5505(a), due to an alleged failure to
meet the 300 round lot shareholder requirement at the time of its
initial listing, and (iv) Listing Rule 5550(a), due to an alleged
failure of the Company to currently meet the 300 round lot
shareholder requirement.
The delisting determination letter noted that the Company may
appeal the Listing Qualifications Staff's determination. However,
if the Company does not appeal this determination, 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 Company intends to request a hearing before the Nasdaq
Hearings Panel to appeal the Listing Qualification Staff's
determination as set forth in the Listing Rule 5800 Series.
About Wins Finance
Wins Finance is a diversified investment and asset management
company listed on NASDAQ. The Company is focused on identifying
value accretive investment opportunities and assets in China and the United
States that can be enhanced through the strategic
involvement of Wins' established management team and its
familiarity with the Chinese investment community to help generate
long-term value for shareholders. Wins Finance is well positioned
to leverage its expertise and existing operations in China to build a comprehensive platform for
the provision of lending and other financing solutions to the
under-served small and medium enterprise segment. For more
information, please visit www.winsholdings.com.
Forward Looking Statements
This news release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended, and as defined in the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates" and similar statements. All statements other than
statements of historical fact in this press release are
forward-looking statements and involve certain risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. These forward-looking
statements are based on management's current expectations,
assumptions, estimates and projections about the Company and the
industry in which the Company operates, but involve a number of
unknown risks and uncertainties. Further information regarding
these and other risks are described in the Company's Annual Report
on Form 20-F for the year ended June 30,
2016 and in the Company's other filings with the U.S.
Securities and Exchange Commission. The Company undertakes no
obligation to update forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these forward
looking statements are reasonable, it cannot assure you that such
expectations will turn out to be correct, and actual results may
differ materially from the anticipated results. You are urged to
consider these factors carefully in evaluating the forward-looking
statements contained herein and are cautioned not to place undue
reliance on such forward-looking statements, which are qualified in
their entirety by these cautionary statements.
Company Contacts:
Wins Finance Holdings Inc.
641 Lexington Ave, 29th FL
New York, NY 10022
Tel: 212-488-4974
E-mail: info@winsholdings.com
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SOURCE Wins Finance Holdings Inc.