This Day On The Street
Continue to site
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

Linktone Announces Initiative To Reduce Costs Through Voluntary NASDAQ Delisting And SEC Deregistration

SINGAPORE, Dec. 20, 2013 /PRNewswire/ -- Linktone Ltd. (NASDAQ: LTON, ASX: LTL) ("Linktone" or the "Company"), a provider of media and entertainment content and services in key strategic markets in Asia, announced today that it intends to voluntarily delist its American Depositary Shares ("ADSs") from the NASDAQ Global Select Market ("NASDAQ") and thereafter intends to deregister its ordinary shares under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company expects the Form 25 to be filed with the Securities and Exchange Commission (the "SEC") to voluntarily delist its ADSs on or about January 2, 2014. Delisting from NASDAQ is expected to become effective 10 days after the filing date of the Form 25. Linktone will continue to be subject to reporting obligations under the Exchange Act until such time as it can terminate its registration under the Exchange Act.

Following the delisting and provided that the Company continues to meet the applicable legal requirements, Linktone intends to take the necessary steps to deregister its ordinary shares and terminate its reporting obligations under the Exchange Act. Such deregistration is anticipated to occur in January 2014.

After its ADSs have been delisted from NASDAQ, Linktone expects that the ADSs may be quoted on the Pink OTC Markets Inc. electronic quotation service if market makers commit to make a market in the Company's shares. The Pink Sheets is an electronic network through which participating broker-dealers can make markets and enter orders to buy and sell shares of issuers. However, Linktone can provide no assurance that trading in its ADSs will continue on the Pink Sheets or otherwise. Moreover, Linktone's ADSs may become more illiquid once they are no longer traded on the NASDAQ, which could negatively impact market prices for the Company's ADSs and make it more difficult for ADS holders to sell their ADSs. For more information about this service, please see

Linktone is also listed on the Australian Stock Exchange (the "ASX"). ADS holders who do not wish to trade on Pink Sheets may convert their ADSs to CHESS Depositary Interests ("CDIs") which can be traded on the ASX. Information regarding the conversion process can be found on

After careful consideration, Linktone's board of directors decided to delist the Company's ADSs from NASDAQ and deregister its ordinary shares as it believes that the savings that will benefit shareholders and the Company outweigh the advantages of continuing as a dual-listed, U.S. reporting company. Without the annual accounting and legal costs and administrative burdens associated with SEC reporting obligations, Linktone believes it will be able to reduce its costs while still maintaining appropriate financial controls. Linktone believes that these changes will allow the Company to better focus on its business.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs