China Crescent Enterprises, Inc. Announces On-Demand Webcast to Discuss Continued Listing on Reg SHO List and Anticipated Ongoin
19 Maggio 2009 - 3:00PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced the
Company will release an on-demand Webcast, Wednesday, May 20th to
review the Regulation SHO Threshold List. The price per share (PPS)
increased more than 39% with a high volume of trading on Friday,
May 15, following the Company's first announcement of listing on
the Regulation SHO threshold list on Thursday, May 14, 2009. The
Company remains listed on the "threshold security" list as of the
close of trading yesterday. Management continues to anticipate a
possible buy-in that could result in an increased share price.
Regulation SHO Listing Indicates Stock May Have Been Sold
Short
Regulation SHO is intended to provide a regulatory framework
governing short selling of securities. Regulation SHO is designed,
in part, to fulfill several objectives, to include establishing
uniform locate and delivery requirements in order to address
problems associated with failures to deliver and potentially
abusive "naked" short selling (i.e., selling short without having
borrowed the securities to make delivery).
A Buy-In and Increased PPS May Result to Cover Possible Short
Sales
China Crescent has been added to the threshold security list
because a number of stock sales have been transacted but the actual
shares have not been delivered. The number of failures to deliver
has exceeded the Regulation SHO guidance. China Crescent will
remain on the threshold security until the specified level of fails
has not exceeded the Regulation SHO standard for five consecutive
settlement days. Any failure to deliver that has resulted from a
"naked" short sale may result in a corresponding stock purchase to
cover the short position. Stock purchasing to cover short sales can
add to the ordinary demand for stock purchases and correspondingly
contribute to an increased price per share.
On-Demand Webcast
The Webcast will be available for viewing on-demand. A link for
accessing the Webcast will be available on the Company's corporate
website on May 20th. The Webcast will provide more detail on
Regulation SHO in addition to providing more insight into
management's perspective on the roll of short selling as it
pertains to the public micro cap market. Specifically, the Webcast
will review the potential impact of the Regulation SHO threshold
security listing on the China Crescent common share price.
For more information on Regulation SHO see:
(link:
http://www.nasdaqtrader.com/trader.aspx?id=RegSHOThreshold).
Corporate E-mail Updates
To be added to China Crescent's e-mail database to receive
company updates or to obtain more information on the Company,
please send an e-mail to ir@chinacrescent.com or call
214-722-3065.
About China Crescent Enterprises, Inc.
(http://www.chinacrescent.com/)
China Crescent Enterprises, Inc. reported over $40 million in
profitable Revenue in 2008. The Company is a technology leader in
the rapidly developing Chinese market specializing today in
software engineering, high quality software development and digital
multimedia outsourcing services delivered to customers globally. At
the same time, the firm is a systems integrator and value added
reseller of major global hardware brands in the Chinese domestic
market.
Headquartered in Dallas with operations in Shanghai and Beijing,
China Crescent bridges the gap between Western and Eastern business
cultures to assist western clients in realizing the advantages of
the high quality, low cost technology products and services
available from China. China Crescent also assists Western clients
in localizing products and services to realize the tremendous
growth potential available by expanding into the Chinese
Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
This press release contains forward-looking statements that
involve risks and uncertainties. The statements in this release are
forward-looking statements that are made pursuant to safe harbor
provision of the Private Securities Litigation Reform Act of 1995.
Actual results, events and performance could vary materially from
those contemplated by these forward-looking statements. These
statements involve known and unknown risks and uncertainties, which
may cause China Crescent's actual results in future periods to
differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include,
among other things, product demand and market competition. You
should independently investigate and fully understand all risks
before making investment decisions.
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Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com
214-722-3065
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