Delisting Determination,The Nasdaq Stock Market, LLC,
DATE, 2012, A-Power Energy Generation Systems, Ltd. The Nasdaq
Stock Market, Inc. (the Exchange) has determined to remove
from listing the common stock of
A-Power Energy Generation Systems, Ltd.
(the Company), effective at the opening of the trading
session on DATE, 2012. Based on review of information
provided by the Company, Nasdaq Staff determined that the
Company no longer qualified for listing on the Exchange
pursuant to Listing Rules 5100, 5250(a), 5250(c)(1),
and 5250 (c)(2). The Company was notified of the Staffs
determination on September 1, 2011.
The Company appealed the determination to a Hearing Panel
and also requested that the Panel stay the delisting action
pending the hearing. The Panel denied this request and
notified the Company on September 23, 2011 that its shares would
be suspended on September 26, 2011.
After a hearing and review of information provided by the
Company and Staff, the Panel issued a decision
dated November 1, 2011, defering a delisting determination
and maintaining the status quo with respect to the
Companys listing until December 31, 2011, provided that
(1) no new accounting, operational or internal control
issues arose that would merit an investigation by the
Audit Committee; (2) the Panel remained satisfied
with the Company?s progress toward compliance; and
(3) Staff was satisfied the Company cooperated fully
with its requests for information. The decision
stated that the suspension of trading would be
lifted only when and if the Panel determined the Company
was fully compliant with all listing standards. On
December 30, 2011, the Company informed the Panel
that it would not meet the December 31 deadline to regain
compliance and requested an extension of the
exception. Staff requested
and the Panel granted it an opportunity to respond to
this request. Upon review of information provided
by the Company and Staff, on January 10, 2012,
the Panel issued a final delisting
determination. The Company did not request a review
of the Panels decision by the Nasdaq Listing and
Hearing Review Council. The Listing Council did not
call the matter for review.
The Panels Determination to delist the Company became
final on February 24, 2012.