Amarantus BioScience, Inc. (OTCQB: AMBS), a biotechnology company discovering and developing treatments and diagnostics for diseases associated with neurodegeneration and apoptosis centered around its patented therapeutic protein Mesencephalic Astrocyte Neurotrophic Factor (MANF), today announced that the Berlin-Bremen Stock Exchange (BBSE) has complied with the Company’s demand to cease the unauthorized listing of its common stock, and that as of today its shares are no longer traded on the BBSE.
“We are pleased that the Berlin-Bremen Exchange has complied with our demand to end the listing and trading of Amarantus shares,” said Gerald E. Commissiong, President and Chief Executive Officer of Amarantus BioScience “I want to thank the law firm of JS Barkats, PLLC in assisting us with the legal actions necessary to obtain a successful conclusion to this case.”
Sunny J. Barkats, Esq., founding partner of the law offices of JS Barkats stated, “Many small cap issuers are finding their stock listed on the Berlin-Bremen exchange despite no action on their part, and it could affect the company and its shareholders from an arbitrage standpoint. Thanks to M. Teresa Daley, the head of our litigation group, and her negotiation skills, our team of litigators has obtained the delisting of Amarantus from the Berlin exchange in an amicable fashion.”
The BBSE is one of the few exchanges in the world that allows listing and trading to occur without the consent of the listed company. The Company did not authorize or direct any BBSE broker to act as a market maker for the Company's common stock. The Company believes that it is in the best interests of its shareholders to ensure that any listing of the Company's common stock, whether in the U.S. or on a foreign exchange, is sanctioned by the Company so that management is in a position to ensure regulatory compliance regarding regular trading and other trading-related activities with all United States securities laws. Cessation of trading on the BBSE will not affect the Company's common stock listing in the United States, where it trades on the OTCQB platform.
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