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
TheStreet Open House

China ACM Announces Reverse Stock Split And Reincorporation In The State Of Nevada

BEIJING, Aug. 1, 2013 (GLOBE NEWSWIRE) -- China Advanced Construction Materials Group, Inc. (Nasdaq:CADC) ("China ACM", the "Company"), a provider of ready-mix concrete and related technical services in China, today announced that effective at 5:00 pm Eastern Time on August 1, 2013, the Company will effect a 1-for-12 reverse stock split of its common stock (the "Reverse Split").

Beginning with the opening of trading on August 2, 2013, the Company's common stock will continue to trade on the NASDAQ Capital Market on a Reverse Split adjusted basis with a new CUSIP number of 169365202. No fractional shares will be issued in connection with the Reverse Split. Shareholders who would otherwise be entitled to receive a fractional share in connection with the Reverse Split will receive a full share of common stock.

As a result of the Reverse Split, the stock price is expected to automatically increase proportionally. Although the purpose of this Reverse Spit is to maintain the continued listing of the Company's common stock on NASDAQ, the Company can give no assurance that this goal will be achieved.

On August 1, 2013, at 6 P.M. Eastern Time, after the completion of the Reverse Split, the Company will change its state of incorporation from Delaware to Nevada.

The reincorporation does not result in any change in the Company's headquarters, business, jobs, management, and location of any of its offices or facilities, number of employees, assets, liabilities or net worth. Management, including all directors and officers, remain the same as the management of the Company prior to the reincorporation.

Both the Reverse Split and the reincorporation were approved by shareholders holding the majority of the outstanding common stocks of the Company on June 28, 2013 at the annual meeting of shareholders.

About China Advanced Construction Materials Group, Inc.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,146.16 +14.19 0.08%
S&P 500 2,000.53 +1.55 0.08%
NASDAQ 4,559.67 +6.9110 0.15%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs