Duoyuan Global Water Inc. - Announces Decision To Appeal NYSE Decision To Delist
BEIJING, Feb. 13, 2012 /PRNewswire/ -- Duoyuan Global Water Inc. (NYSE: DGW) ("Duoyuan" or the "Company"), a leading China-based domestic water treatment equipment supplier, announced today that it has requested that a Committee of the Board of Directors of NYSE Regulation, Inc. ("NYSE Regulation") review the decision by the Staff of NYSE Regulation to commence proceedings to delist the American Depositary Shares ("Securities") of Duoyuan Global Water Inc. (the "Company")-- ticker symbol DGW from the New York Stock Exchange ("NYSE"). The NYSE's decision was reached because the Company failed to file on a timely basis with the Securities and Exchange Commission its annual report on Form 20-F for the fiscal year ended December 31, 2010. Application to the Securities and Exchange Commission to delist the Securities is pending the completion of applicable procedures, including the appeal by the Company of the NYSE Regulation staff's determination. In the event that the appeal is successful and the Company otherwise meets the continuing listing standards of NYSE, trading of the Company's common stock on the NYSE would be reinstated, although no timetable has been established as to when the Committee of NYSE will be able to hear such an appeal.
About Duoyuan Global Water Inc.
Duoyuan Global Water Inc. is a leading China-based domestic water treatment equipment supplier. Duoyuan's product offerings address key steps in the water treatment process, such as filtration, water softening, water-sediment separation, aeration, disinfection and reverse osmosis. Duoyuan offers a comprehensive set of complementary products across three product categories: water conservation, including circulating water treatment; water purification; and water reuse treatment, including wastewater treatment. The Company has an extensive local distribution network, which provides proximity to end-user customers and responsiveness to local market demand. Learn more at www.duoyuan-hq.com.
Cautionary Note Regarding Forward-Looking StatementsThis press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. These forward-looking statements may include, but are not limited to, statements containing words such as "may," "could," "would," "plan," "anticipate," "believe," "estimate," "predict," "potential," "expects," "intends" and "future" or similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to change at any time. These forward-looking statements are based upon management's current expectations and are subject to a number of risks, uncertainties and contingencies, many of which are beyond the Company's control that may cause actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. The Company's actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including those described under the heading "Item 3. Key Information — Risk Factors" in the Company's Annual Report on Form 20-F for the year ended December 31, 2009, filed with the Securities and Exchange Commission on June 18, 2010, and in documents subsequently filed. SOURCE Duoyuan Global Water Inc.
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