This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
May 19, 2011 /PRNewswire-Asia/ -- China MediaExpress Holdings, Inc. (NASDAQ: CCME) ("CME" or the "Company"),
China's largest television advertising operator on inter-city and airport express buses, reported today that the Nasdaq Stock Market ("Nasdaq") has sent a letter to the Company indicating that it denied the request of the Company for continued listing on Nasdaq, and will suspend trading of the Company's shares effective at the open of business on
Thursday, May 19, 2011.
The Company intends to further appeal the hearing panel's determination.About CME
CME, through contractual arrangements with Fujian Fenzhong, an entity majority owned by CME' former majority shareholder, operates the largest television advertising network on inter-city and airport express buses in
China. While CME has no direct equity ownership in Fujian Fenzhong, through the contractual agreements CME receives the economic benefits of Fujian Fenzhong's operations. Fujian Fenzhong generates revenue by selling advertisements on its network of television displays installed on over 27,200 express buses originating in eighteen of
China's most prosperous regions, including the four municipalities of
Chongqing and fourteen economically prosperous regions, namely
Shanxi, Inner Mongolia,
SOURCE China MediaExpress Holdings, Inc.